Affymax (AFFY) Inactive 10-Q6 May 142014 Q1 Quarterly reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
Document and Entity Information	Mar. 31, 2014	Apr. 30, 2014
Entity Information [Line Items]	'	'
Entity Registrant Name	'AFFYMAX INC	'
Entity Central Index Key	'0001158223	'
Document Type	'10-Q	'
Document Period End Date	31-Mar-14	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--12-31	'
Entity Current Reporting Status	'Yes	'
Entity Filer Category	'Non-accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	37,490,095
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q1	'

CONDENSED_BALANCE_SHEETS

CONDENSED BALANCE SHEETS (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Current assets	'	'
Cash	$4,856	$5,597
Prepaid expenses	600	725
Total current assets	5,456	6,322
Other assets	1,007	1,121
Total assets	6,463	7,443
Current liabilities	'	'
Accounts payable	236	101
Accrued restructuring	179	315
Other accrued liabilities	195	266
Advance from Takeda	8,189	8,189
Total current liabilities	8,799	8,871
Total liabilities	8,799	8,871
Stockholders' equity	'	'
Common stock: $0.001 par value, 100,000,000 shares authorized, 37,490,095 shares issued and outstanding	37	37
Additional paid-in capital	557,156	556,672
Accumulated deficit	-559,529	-558,137
Total stockholdersâ€™ deficit	-2,336	-1,428
Total liabilities and stockholdersâ€™ deficit	$6,463	$7,443

CONDENSED_BALANCE_SHEETS_Paren

CONDENSED BALANCE SHEETS (Parenthetical) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Statement of Financial Position [Abstract]	'	'
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	37,490,095	37,490,095
Common stock, shares outstanding	37,490,095	37,490,095

CONDENSED_STATEMENTS_OF_COMPRE

CONDENSED STATEMENTS OF COMPREHENSIVE LOSS (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Revenue:	'	'
Collaboration revenue	$0	$839
License and royalty revenue	0	5
Total revenue	0	844
Operating expenses:	'	'
Research and development	0	9,789
Selling, general and administrative	1,493	24,644
Collaboration cost reimbursement	0	-20,378
Impairment of prepaid expenses, fixed assets and intangible assets	0	5,140
2013 Restructuring charge	-101	8,216
Total operating expenses	1,392	27,411
Loss from operations	-1,392	-26,567
Interest income	0	15
Interest expense	0	-492
Loss before provision for income taxes	-1,392	-27,044
Provision for income taxes	0	1
Net loss	-1,392	-27,045
Net loss per share:	'	'
Basic and diluted net loss per share (in dollars per share)	($0.04)	($0.72)
Weighted-average shares used in computing basic and diluted net loss per share	'	'
Basic and diluted (in shares)	37,490	37,469
Total comprehensive loss	($1,392)	($27,045)

CONDENSED_STATEMENTS_OF_CASH_F

CONDENSED STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Cash flows from operating activities	'	'
Net loss	($1,392)	($27,045)
Adjustments to reconcile net loss to net cash used in operating activities:	'	'
Collaboration cost reimbursement	0	-19,767
Impairment of prepaid expenses, fixed assets and intangible assets	0	5,140
Noncash restructuring charge	0	274
Depreciation and amortization	0	386
Amortization of premium on investments	0	6
Stock-based compensation expense	484	3,717
Noncash interest expense	0	271
Changes in operating assets and liabilities:	'	'
Receivable from Takeda	0	17,485
Prepaid expenses	125	-228
Other current assets	114	2,968
Other assets	0	220
Accounts payable	135	2,715
Accrued liabilities	-207	-9,337
Accrued clinical trial expenses	0	-610
Deposit from Takeda	0	-559
Other long-term liabilities	0	-256
Net cash used in operating activities	-741	-24,620
Cash flows from investing activities	'	'
Proceeds from maturities of investments	0	3,600
Net cash provided by investing activities	0	3,600
Cash flows from financing activities	'	'
Proceeds from issuance of common stock upon exercise of stock options	0	271
Repayment of note payable	0	-901
Net cash used in financing activities	0	-630
Net decrease in cash and cash equivalents	-741	-21,650
Cash and cash equivalents at beginning of the period	5,597	68,265
Cash and cash equivalents at end of the period	$4,856	$46,615

The_Company

The Company	3 Months Ended
The Company	Mar. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
The Company	'
	The Company

	Affymax, Inc., a Delaware corporation, was incorporated in July 2001. In March 2012, the U.S. Food and Drug Administration, or FDA, approved our only product, OMONTYS® (peginesatide) Injection for the treatment of anemia due to chronic kidney disease in adult patients on dialysis. OMONTYS is a synthetic, peptide-based erythropoiesis stimulating agent, or ESA, designed to stimulate production of red blood cells and has been the only once-monthly ESA available to the adult dialysis patient population in the U.S. We co-commercialized OMONTYS with our collaboration partner, Takeda Pharmaceutical Company Limited, or Takeda during 2012 until February 2013, when we and Takeda announced a nationwide voluntary recall of OMONTYS as a result of safety concerns. Effective April 1, 2013, we entered into an amendment of our collaboration with Takeda pursuant to which Takeda assumed full responsibility for OMONTYS, including responsibility for the ongoing recall and investigation with the FDA, and we granted them an exclusive worldwide license to OMONTYS in consideration for potential milestones and royalties.

	We have experienced significant operating losses since inception. The recall of OMONTYS has severely harmed our business, financial condition, access to funds and prospects as a going concern.We may be unable to continue our operations or to succeed in existing and potential future litigation, in view of our limited resources and funds. As of March 31, 2014, we had an accumulated deficit of $559.5 million.
	Product Recall
	On February 23, 2013, we and Takeda announced a nationwide voluntary recall of OMONTYS as a result of post marketing reports regarding safety concerns, including anaphylaxis, which can be life-threatening or fatal. As a result of the voluntary recall of OMONTYS, all marketing activities were suspended and we have also suspended or terminated manufacturing activities.

	Restructuring and Impairment

	In March 2013, we commenced a restructuring plan to reduce operating costs, which included a reduction in force of approximately 305 employees. As of March 31, 2014 there are three employees remaining. We incurred approximately $16.1 million in restructuring charges for the year ended December 31, 2013, all of which are related to expenditures for one-time employee termination benefits (see Note 6 of the Notes to Condensed Financial Statements). As a result of this restructuring and the recall, we also recorded impairment changes with respect to our property and equipment and intangible assets related to our license from Janssen Biotech, Inc. (a subsidiary of Johnson & Johnson) and certain of its affiliated companies, collectively referred to as Janssen, in the first quarter of 2013 (see Note 4 of the Notes to Condensed Financial Statements).
	Effective April 1, 2013, we and Takeda, collectively the Parties, entered into the Fourth Amendment, or the Amendment, to the February 13, 2006 and June 27, 2006 Collaboration and License Agreements to amend and restate the ongoing respective roles and responsibilities and related commitments and financial terms between the Parties, including the termination of the Collaboration and License Agreement dated as of February 13, 2006, under which we granted Takeda a certain right and license for the development and commercialization in Japan of OMONTYS, as amended by the First Amendment, dated April 1, 2007, the Second Amendment, dated January 1, 2008 and the Third Amendment, dated November 7, 2011, as well as the related manufacturing supply, safety, quality and co-promotion agreements between the Parties. The Amendment revised the economics from a profit-sharing arrangement to a milestone and royalty-based compensation structure to us effective as of April 1, 2013. This Amendment is part of our ongoing restructuring efforts resulting from the voluntary recall announced on February 23, 2013 related to OMONTYS, the suspension of U.S. marketing and promotional activities, and the ongoing investigation with the FDA. The arrangement with Takeda including the Amendment is referred to as the Arrangement.
	The Amendment effectuated a transfer of product and regulatory responsibilities, including the OMONTYS New Drug Application, or NDA, and all manufacturing, and development responsibilities from us to Takeda. Takeda received a worldwide, exclusive royalty-bearing license under our and joint Takeda-Affymax patents to develop, manufacture and commercialize OMONTYS.
	As a result of the Amendment, Takeda assumed full responsibility for OMONTYS, including the ongoing recall and investigation of OMONTYS as well as any subsequent decisions as to whether the product may be subject to reintroduction if Takeda is able to complete the investigation and address the safety concerns to the satisfaction of the FDA. If Takeda decides to reintroduce OMONTYS, which is highly uncertain, we are eligible to receive royalties and (i) potential commercial milestone payments totaling up to $180.0 million which consists of the following: (a) $10.0 million is payable upon the first commercial sale after reintroduction of OMONTYS in the U.S.; (b) $10.0 million and another $10.0 million relates to U.S. sales-based milestones, and (c) $150.0 million relates to sales-based milestones in amounts as previously disclosed outside of the U.S. but now including Japan as a result of the Amendment and (ii) a potential development milestone payment of $5.0 million payable either upon regulatory approval in the E.U. or Japan. The royalties are tiered in the range of 13% to 17% with respect to net sales in the U.S. and in the range of 13% to 24% depending on the level of net sales by Takeda worldwide outside of the U.S. As of March 31. 2014, we have retained a liability for an advance from Takeda on our condensed balance sheet of approximately $8.2 million, which Takeda may offset a percentage of future royalty and milestone payments due to us, if any against the advance recorded (see Note 3 of the Notes to Condensed Financial Statements).
	Going Concern
	Because we have not made an irrevocable decision to liquidate, the accompanying condensed financial statements have been prepared under the assumption of a going concern basis that contemplates the realization of assets and liabilities in the ordinary course of business. Operating losses have been incurred each year since inception, resulting in an accumulated deficit of $559.5 million as of March 31, 2014. Nearly all of our revenues to date have come from our collaboration with Takeda. As a result of the February 23, 2013 nationwide voluntary recall of OMONTYS and the suspension of all marketing activities, there is significant uncertainty as to whether we will have sufficient existing cash to fund our operations for the next 12 months. Given our limited resources, there is no assurance that we will be able to reduce our operating expenses enough to meet our existing and future obligations and conduct ongoing operations. If we do not have sufficient funds to continue operations, we could be required to liquidate our assets, seek bankruptcy protection or other alternatives. Any failure to dispel any continuing doubts about our ability to continue as a going concern could adversely affect our ability to enter into collaborative relationships with business partners. These matters raise substantial doubt about our ability to continue as a going concern. Our financial statements do not include any adjustments that may result from the outcome of this uncertainty.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2014
Accounting Policies [Abstract]	'
Summary of Significant Accounting Policies	'
	Summary of Significant Accounting Policies

	Basis of Presentation

	Our accompanying condensed financial statements have been prepared following the requirements of the Securities and Exchange Commission, or SEC, for interim reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by U.S. generally accepted accounting principles, or GAAP, have been condensed or omitted. The condensed financial statements are unaudited and reflect all adjustments, consisting of only normal recurring adjustments, which, in the opinion of management, are necessary to fairly state the financial position at, and the results of operations and cash flows for, the interim periods presented. The financial information included herein should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2013, which includes our audited financial statements and the notes thereto.

	Revenues, expenses, assets and liabilities can vary during each quarter of the year. Therefore, the results and trends in the condensed financial statements and accompanying notes may not be indicative of the results for the full year or any future period.


	Use of Estimates
	The preparation of financial statements in conformity with U.S. GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

	Cash and Cash Equivalents
	Cash and cash equivalents are stated at cost, which approximates market value. As of December 31, 2013 and March 31, 2014, the Company did not hold any investments in marketable debt or equity securities, including any cash equivalents.
	Revenue Recognition

	Collaboration Revenue



	We account for our Arrangement with Takeda under ASC 605-25, Multiple Element Arrangements and through the date of the recall, had been operating in the commercialization period as defined in the Arrangement. Before the recall, we were performing commercialization services such as promotions and marketing as well as development work related to OMONTYS post approval. In return for these services, we received a 50/50 share of operating profit from the sale and distribution of OMONTYS (as described below), certain milestone payments and contingent payments due under the Arrangement. We also received reimbursement of costs for commercial and development costs as described in the Arrangement. Prior to approval of OMONTYS, our primary source of revenue consisted of milestone payments and Takeda’s reimbursement of commercialization and development costs.


	During the commercialization period, our obligations included ongoing regulatory work to obtain and maintain FDA approval and commercialization efforts related to our product launch and promotion and marketing of OMONTYS.

	For each source of collaboration revenue, we apply the following revenue recognition model:


	•	Expense reimbursement revenue. Revenues related to reimbursements by Takeda of third-party development expenses (70/30 split per the Arrangement) and commercialization expenses (shared 50/50 according to the Arrangement) are recognized as revenue in the period the related costs are incurred. Revenues related to reimbursement of costs of full-time equivalents, or FTEs, engaged in development related activities such as post-marketing studies, are recognized as revenue in the period the related costs are incurred. Such reimbursement is based on contractually negotiated reimbursement rates for each FTE as specified in the Arrangement. Subsequent to the launch of OMONTYS and recognition of product revenue by Takeda, reimbursement of commercialization expenses and development costs (both FTE and out of pocket costs) associated with post-marketing development activities, is incorporated into the profit equalization revenue as required under the Arrangement in order to effect the 50/50 profit split, as described below. As part of the Amendment with Takeda, both Parties agreed that they will no longer share expenses related to third-party development (70/30 split) and commercialization (50/50 split) as of April 1, 2013. Except for certain transition services that we performed in April 2013 for full reimbursement of $0.5 million, any expenses incurred by either us or Takeda after April 1, 2013 shall be the responsibility of the respective party and neither we nor Takeda have an obligation to share expenses with each other.


	•	Profit equalization revenue/loss. Subsequent to the launch of OMONTYS and prior to the Amendment, as to the recognition of product revenue by Takeda, Takeda allocated the quarterly profit equalization revenue/loss to us in order to effect the 50/50 profit/loss split from the sale of OMONTYS, as called for by the Arrangement. Profit equalization revenue/loss was calculated as the amount required so that the profit or loss realized by both us and Takeda on the product equates to 50% of the total product profit or loss. Total product profit or loss on OMONTYS was calculated on a quarterly basis as gross product sales recorded by Takeda less the following deductions also recorded by Takeda: rebates and discounts, cost of goods, and other gross-to-net adjustments incurred by Takeda; royalty expenses incurred by us, commercialization expenses (FTE related and out of pocket costs) incurred by both Takeda and us, and certain development costs associated with post-marketing development activities (FTE related and out of pocket costs) incurred by both Takeda and us. Profit equalization revenue was recognized as revenue in the period product revenue is recognized by Takeda. As a result of the voluntary recall of OMONTYS in February 2013, all marketing activities were suspended. As part of the Amendment with Takeda, the profit equalization revenue for the three months ended March 31, 2013 was the final profit equalization payment under the Arrangement. Upon signing the Amendment with Takeda, the economics of the collaboration changed from a profit sharing arrangement to a milestone and royalty-based compensation structure to us, effective April 1, 2013.










	Below is a summary of the components of our collaboration revenue for the three months ended March 31, 2014, and 2013 (in thousands):



		Three months ended March 31,
		2014				2013
	Net expense reimbursement after CAPM	—				839

	Total collaboration revenue	$	—			$	839


	Net Loss Per Common Share

	Basic and diluted net loss per share is computed by dividing net loss by the weighted-average number of shares of common stock outstanding during the period. Stock options were not included in the diluted net loss per common share calculation for the periods presented because the inclusion of such shares would have had an antidilutive effect.

	The following shares were excluded in the computation of diluted net loss per common share for the periods presented because including them would have an anti-dilutive effect (in thousands):


		Three months ended March 31,
		2014			2013
	Options to purchase common stock	1,598			4,803

Common stock issuable pursuant to the 2006 Employee Stock Purchase Plan	—			125

Restricted stock units	—			437

Warrant to purchase common stock	—			424

Advance_from_Takeda

Advance from Takeda	3 Months Ended
Advance from Takeda	Mar. 31, 2014
Development and Commercialization Agreements [Abstract]	'
Advance from Takeda	'
	Advance from Takeda


	Under our agreement with Takeda, Takeda bore responsibility for 70% of all third-party expenses related to U.S. development and 50% of all third party expenses related to U.S. commercialization. Takeda also provided a launch allowance to help fund the initial costs associated with preparing to launch under which it committed to fund the first $20.0 million of U.S. commercial expenses incurred in total by us and Takeda. Amounts received under the launch allowance are non-refundable; under the Amendment, however, Takeda is entitled to deduct up to 8% from any future payments made to us under the royalty or milestone provisions until they have recouped an amount equal to $11.0 million ($10.0 million plus a $1.0 million fixed amount that represents interest). As of March 31, 2014, our liability balance under the launch allowance is $8.2 million.

	Due to voluntary recall of OMONTYS in February 2013, all marketing activities have been suspended and there is no certainty as to when those activities will restart. The launch allowance will remain as a liability until we can determine, if at all, the timing of when that liability will be extinguished or if the collaboration is terminated. If our collaboration with Takeda is terminated prior to Takeda's recoupment of the balance, there is no obligation that we repay these amounts.

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies	'
	Commitments and Contingencies
	Legal Proceedings
	Shareholder Litigation
	On February 27, 2013, a securities class action complaint was filed in the United States District Court for the Northern District of California, naming as defendants the Company, certain of its officers, Takeda Pharmaceutical Company Limited, Takeda Pharmaceuticals U.S.A., Inc. and Takeda Global Research & Development Center, Inc. A second complaint naming the same defendants was filed on March 6, 2013. On May 2, 2013, the securities class action complaint that was filed on February 27, 2013 was voluntarily dismissed by the plaintiff. On May 21, 2013, the Court appointed a lead plaintiff in the remaining securities class action complaint that had been filed on March 6, 2013. On July 22, 2013, a consolidated amended class action complaint was filed on behalf of purported stockholders of the Company, naming as defendants the Company and certain of its former officers. The consolidated amended complaint alleges violations of Section 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder, in connection with allegedly false and misleading statements made by the defendants regarding OMONTYS, the Company's business practices, financial projections and other disclosures between August 8, 2012 and February 22, 2013, or the Class Period. The plaintiff seeks to represent a class comprised of purchasers of the Company's common stock during the Class Period and seeks damages, costs and expenses and such other relief as determined by the Court. On September 20, 2013, the Company and the individual defendants (collectively, “Defendants”) filed a motion to dismiss the consolidated amended complaint. On November 19, 2013, the plaintiff filed her opposition to the motion to dismiss and on December 19, 2013, Defendants filed their reply in support of their motion to dismiss. The hearing on the motion to dismiss occurred on January 15, 2014. On January 21, 2014, the Court issued its order granting the motion to dismiss regarding violations of Section 20(a) against all Defendants and it granted the motion to dismiss in part, denying the motion to dismiss in part, and providing plaintiffs with an opportunity to amend the complaint. On February 18, 2014, the Court, pursuant to a stipulation by the parties, stayed the litigation for ninety days to allow the parties to conduct settlement discussions.

	On March 19, 2013 and March 29, 2013, respectively, two derivative lawsuits were filed purportedly on behalf of the Company in California Superior Court for the County of Santa Clara naming certain of our current and former officers and directors as defendants (the “State Court Derivative Action”). The lawsuits allege that certain of the Company's officers and directors breached their fiduciary duties related to the clinical trials for OMONTYS and for representations regarding the Company's business health, which was tied to the success of OMONTYS. The lawsuits also assert claims for unjust enrichment and corporate waste. On May 31, 2013, the Court consolidated the two actions and appointed lead plaintiff. On June 11, 2013, lead plaintiff designated the complaint filed on March 29, 2013 as the operative complaint. On August 6, 2013, the Court stayed the State Court Derivative Action pending the outcome of the motion to dismiss in the securities class action. Subsequent to the order regarding the motion to dismiss in the securities class action, on January 31, 2014, the Court ordered that the State Court Derivative Action be stayed in its entirety until resolution of the securities class action.

	On August 19, 2013, another derivative lawsuit was filed purportedly on behalf of the Company in the United States District Court for the Northern District of California naming certain of our current and former officers and directors as defendants (the “Federal Derivative Action”). The lawsuit’s allegations are substantially similar to the allegations in the State Court Derivative Action. On October 21, 2013, the Court ordered a stay in the Federal Derivative Action pending the outcome of the motion to dismiss in the securities class action. Subsequent to the order regarding the motion to dismiss in the securities class action, on January 31, 2014, the Court ordered that the Federal Derivative Action be stayed until resolution of the securities class action. On April 30, 2014, plaintiff in the Federal Derivative Action filed a notice of voluntary dismissal without prejudice.

	Additional complaints may be filed against us and our directors and officers related to our recall of OMONTYS.
	Product Liability Litigation
	On or about February 13, 2014, a complaint was filed by an individual plaintiff in the Fourth Judicial District Court (Ouachita Parish) of the State of Louisiana, naming as defendants the Company, Takeda Pharmaceuticals America, Inc., Takeda Pharmaceuticals U.S.A., Inc., Takeda Development Center Americas, Inc., Takeda Pharmaceuticals International, Inc., Takeda Pharmaceutical Company Limited, Fresenius Medical Care Monroe, LLC, and Fresenius Medical Care Holdings, Inc., and indicating an intention to add two physicians as defendants. The plaintiff seeks to hold the defendants liable in connection with the death of her husband on February 15, 2013. The complaint alleges that the Company and certain other defendants are liable under the Louisiana Products Liability Act, La.R.S. 9:2800.51, et seq., other Louisiana statutes, and otherwise in connection with their alleged acts and omissions with respect to OMONTYS. The plaintiff seeks various categories or types of damages, including, without limitation, damages for her and her late husband’s alleged losses and injuries, punitive or exemplary damages, the price of OMONTYS and reasonable expenses occasioned by the sale of that drug, and other relief as set forth in the complaint. On April 11, 2014, we filed our initial response to the claim, denying that the Company is liable for the plaintiff's damages as set forth in the complaint. Although this is the only lawsuit that the Company is aware of at this time, there can be no assurances that additional product liability complaints will not be brought.

	Our management believes that we have meritorious defenses and intends to defend these lawsuits vigorously. However, these lawsuits are subject to inherent uncertainties, the actual cost may be significant, and we may not prevail. We believe we are entitled to coverage under our relevant insurance policies, subject to a retention, but coverage could be denied or prove to be insufficient.

	We assess litigation to determine if an unfavorable outcome would lead to a probable loss or reasonable possible loss, which could be estimated. We accrue for losses that are both probable and reasonably estimable. If the estimate of a probable loss is a range and no amount within the range is more likely, we accrue the minimum amount of the range. In the cases where we believe that a reasonable possible loss exists, we disclose the facts and circumstances of the litigation, including an estimable range, if possible. Substantially all of these contingencies are subject to significant uncertainties and, therefore, determining the likelihood of a loss and/or the measurement of any loss can be complex. Consequently, we are unable to estimate the range of reasonable possible loss. Accordingly, no loss accrual has been established for the above. While it is not possible to accurately predict or determine the eventual outcome of these matters, an adverse determination in one or more of these matters currently pending could have a material adverse effect on our financial condition, results of operations or cash flows.

StockBased_Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Stock-Based Compensation	'
	Stock-Based Compensation

	Stock-based compensation was recorded in the statements of operations as follows (in thousands):



		Three Months Ended
		March 31,
		2014		2013
	Research and development	$	—	$	1,244

	Selling, general and administrative	484		2,473

	Total	$	484	$	3,717



	Stock Option Activity
	The following tables summarize information about stock option activity for the three months ended March 31, 2014:


		Number of		Weighted-		Weighted-	Aggregate
		Shares		Average Exercise Price		Average	Intrinsic Value
				(Per Share)		Remaining	(in thousands)
						Contractual
						Term
						(in years)
	Stock Options:
	Balances at December 31, 2013	1,839,857		$	16.24

	Granted	—		—

	Exercised	—		—

	Forfeited	(5,236	)	15.65

	Cancelled	(236,773	)	21.18

	Balances at March 31, 2014	1,597,848		15.5		3.76	$	—

	Options exercisable at March 31, 2014	1,370,003		16.16		3.09	$	—

Restructuring_Charge

Restructuring Charge	3 Months Ended
	Mar. 31, 2014
Restructuring and Related Activities [Abstract]	'
Restructuring Charge	'
	Restructuring Charge

	2013 Restructuring

	In March 2013, we implemented plans to restructure our operations in order to reduce operating costs and focus on the OMONTYS safety and other related FDA issues associated with the recall of the product. As of March 31, 2013, we completed a reduction in force of almost all our personnel, including all of our commercial and medical affairs field forces as well as other employees throughout the organization. We incurred $8.2 million in restructuring charges, all of which were related to the workforce reduction during the first quarter of 2013.

	The following table summarizes the accrual balance and utilization by type for the restructuring (in thousands):



		Total
	Balance at December 31, 2013	$	315

	Cash payments	(35		)
	Adjustment	$	(101	)
	Balance at March 31, 2014	$	179

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2014
Accounting Policies [Abstract]	'
Basis of Presentation	'
	Basis of Presentation

	Our accompanying condensed financial statements have been prepared following the requirements of the Securities and Exchange Commission, or SEC, for interim reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by U.S. generally accepted accounting principles, or GAAP, have been condensed or omitted. The condensed financial statements are unaudited and reflect all adjustments, consisting of only normal recurring adjustments, which, in the opinion of management, are necessary to fairly state the financial position at, and the results of operations and cash flows for, the interim periods presented. The financial information included herein should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2013, which includes our audited financial statements and the notes thereto.

	Revenues, expenses, assets and liabilities can vary during each quarter of the year. Therefore, the results and trends in the condensed financial statements and accompanying notes may not be indicative of the results for the full year or any future period.
Use of Estimates	'
	Use of Estimates
	The preparation of financial statements in conformity with U.S. GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
Cash and Cash Equivalents	'
	Cash and Cash Equivalents
	Cash and cash equivalents are stated at cost, which approximates market value. As of December 31, 2013 and March 31, 2014, the Company did not hold any investments in marketable debt or equity securities, including any cash equivalents.
Revenue Recognition	'
	Revenue Recognition

	Collaboration Revenue



	We account for our Arrangement with Takeda under ASC 605-25, Multiple Element Arrangements and through the date of the recall, had been operating in the commercialization period as defined in the Arrangement. Before the recall, we were performing commercialization services such as promotions and marketing as well as development work related to OMONTYS post approval. In return for these services, we received a 50/50 share of operating profit from the sale and distribution of OMONTYS (as described below), certain milestone payments and contingent payments due under the Arrangement. We also received reimbursement of costs for commercial and development costs as described in the Arrangement. Prior to approval of OMONTYS, our primary source of revenue consisted of milestone payments and Takeda’s reimbursement of commercialization and development costs.


	During the commercialization period, our obligations included ongoing regulatory work to obtain and maintain FDA approval and commercialization efforts related to our product launch and promotion and marketing of OMONTYS.

	For each source of collaboration revenue, we apply the following revenue recognition model:


	•	Expense reimbursement revenue. Revenues related to reimbursements by Takeda of third-party development expenses (70/30 split per the Arrangement) and commercialization expenses (shared 50/50 according to the Arrangement) are recognized as revenue in the period the related costs are incurred. Revenues related to reimbursement of costs of full-time equivalents, or FTEs, engaged in development related activities such as post-marketing studies, are recognized as revenue in the period the related costs are incurred. Such reimbursement is based on contractually negotiated reimbursement rates for each FTE as specified in the Arrangement. Subsequent to the launch of OMONTYS and recognition of product revenue by Takeda, reimbursement of commercialization expenses and development costs (both FTE and out of pocket costs) associated with post-marketing development activities, is incorporated into the profit equalization revenue as required under the Arrangement in order to effect the 50/50 profit split, as described below. As part of the Amendment with Takeda, both Parties agreed that they will no longer share expenses related to third-party development (70/30 split) and commercialization (50/50 split) as of April 1, 2013. Except for certain transition services that we performed in April 2013 for full reimbursement of $0.5 million, any expenses incurred by either us or Takeda after April 1, 2013 shall be the responsibility of the respective party and neither we nor Takeda have an obligation to share expenses with each other.


	•	Profit equalization revenue/loss. Subsequent to the launch of OMONTYS and prior to the Amendment, as to the recognition of product revenue by Takeda, Takeda allocated the quarterly profit equalization revenue/loss to us in order to effect the 50/50 profit/loss split from the sale of OMONTYS, as called for by the Arrangement. Profit equalization revenue/loss was calculated as the amount required so that the profit or loss realized by both us and Takeda on the product equates to 50% of the total product profit or loss. Total product profit or loss on OMONTYS was calculated on a quarterly basis as gross product sales recorded by Takeda less the following deductions also recorded by Takeda: rebates and discounts, cost of goods, and other gross-to-net adjustments incurred by Takeda; royalty expenses incurred by us, commercialization expenses (FTE related and out of pocket costs) incurred by both Takeda and us, and certain development costs associated with post-marketing development activities (FTE related and out of pocket costs) incurred by both Takeda and us. Profit equalization revenue was recognized as revenue in the period product revenue is recognized by Takeda. As a result of the voluntary recall of OMONTYS in February 2013, all marketing activities were suspended. As part of the Amendment with Takeda, the profit equalization revenue for the three months ended March 31, 2013 was the final profit equalization payment under the Arrangement. Upon signing the Amendment with Takeda, the economics of the collaboration changed from a profit sharing arrangement to a milestone and royalty-based compensation structure to us, effective April 1, 2013.
Net Loss Per Common Share	'
	Net Loss Per Common Share

	Basic and diluted net loss per share is computed by dividing net loss by the weighted-average number of shares of common stock outstanding during the period. Stock options were not included in the diluted net loss per common share calculation for the periods presented because the inclusion of such shares would have had an antidilutive effect.

	The following shares were excluded in the computation of diluted net loss per common share for the periods presented because including them would have an anti-dilutive effect (in thousands):


		Three months ended March 31,
		2014	2013
	Options to purchase common stock	1,598	4,803

	Common stock issuable pursuant to the 2006 Employee Stock Purchase Plan	—	125

	Restricted stock units	—	437

	Warrant to purchase common stock	—	424

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2014
Accounting Policies [Abstract]	'
Summary of the components of collaboration revenue	'
	Below is a summary of the components of our collaboration revenue for the three months ended March 31, 2014, and 2013 (in thousands):



		Three months ended March 31,
		2014			2013
	Net expense reimbursement after CAPM	—			839

	Total collaboration revenue	$	—		$	839

Schedule of antidilutive shares excluded from the computation of diluted net loss per common share	'
	The following shares were excluded in the computation of diluted net loss per common share for the periods presented because including them would have an anti-dilutive effect (in thousands):


		Three months ended March 31,
		2014		2013
	Options to purchase common stock	1,598		4,803

	Common stock issuable pursuant to the 2006 Employee Stock Purchase Plan	—		125

	Restricted stock units	—		437

	Warrant to purchase common stock	—		424

StockBased_Compensation_Tables

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Schedule of stock-based compensation recorded in the statements of operations	'
	Stock-based compensation was recorded in the statements of operations as follows (in thousands):



		Three Months Ended
		March 31,
		2014		2013
	Research and development	$	—	$	1,244

	Selling, general and administrative	484		2,473

	Total	$	484	$	3,717

Schedule of stock options and restricted stock units to employees and directors	'
	The following tables summarize information about stock option activity for the three months ended March 31, 2014:


		Number of		Weighted-		Weighted-	Aggregate
		Shares		Average Exercise Price		Average	Intrinsic Value
				(Per Share)		Remaining	(in thousands)
						Contractual
						Term
						(in years)
	Stock Options:
	Balances at December 31, 2013	1,839,857		$	16.24

	Granted	—		—

	Exercised	—		—

	Forfeited	(5,236	)	15.65

	Cancelled	(236,773	)	21.18

	Balances at March 31, 2014	1,597,848		15.5		3.76	$	—

	Options exercisable at March 31, 2014	1,370,003		16.16		3.09	$	—

Restructuring_Charge_Tables

Restructuring Charge (Tables)	3 Months Ended
	Mar. 31, 2014
Restructuring and Related Activities [Abstract]	'
Summarizes the accrual balance and utilization by type for the restructuring	'
	The following table summarizes the accrual balance and utilization by type for the restructuring (in thousands):



		Total
	Balance at December 31, 2013	$	315

	Cash payments	(35		)
	Adjustment	$	(101	)
	Balance at March 31, 2014	$	179

The_Company_Details

The Company (Details) (USD $)

3 Months Ended

12 Months Ended

Mar. 31, 2014

Mar. 31, 2013

Dec. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Dec. 31, 2013

Mar. 31, 2014

Takeda Pharmaceutical Company Limited [Member]

2013 Restructuring Plan [Member]

Product Development and Commercialization - June 2006 Agreement [Member]

United States of America [Member]

Foreign [Member]

Aggregate Net Sales Reached [Member]

First Commercial Sale After Reintroduction of O.M.O.N.T.Y.S [Member]

U.S Sales-based Milestone One [Member]

U.S Sales-based Milestone Two [Member]

Milestone Payment Based On Sales Foreign Sales Based Milestone [Member]

employee

Takeda Pharmaceutical Company Limited [Member]

Minimum [Member]

Maximum [Member]

Minimum [Member]

Maximum [Member]

United States of America [Member]

Restructuring Cost and Reserve [Line Items]

Accumulated deficit

($559,529,000)

($558,137,000)

Number of positions planned to be reduced as per the restructuring plan

305

2013 Restructuring charge

-101,000

8,216,000

8,200,000

16,100,000

Potential commercial milestone payments

180,000,000

10,000,000

150,000,000

Potential development milestone payments

5,000,000

Net sales royalties, percentage tiered

13.00%

17.00%

13.00%

24.00%

Advance from Takeda

$8,189,000

Summary_of_Significant_Account3

Summary of Significant Accounting Policies (Revenue Recognition) (Details) (USD $)	3 Months Ended		1 Months Ended	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Apr. 30, 2013	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014
			Takeda Pharmaceutical Company Limited [Member]	Takeda Pharmaceutical Company Limited [Member]	Takeda Pharmaceutical Company Limited [Member]	Affymax [Member]
				Arrangement - Product [Member]	Arrangement - Product [Member]	Arrangement - Product [Member]
Collaboration Revenue	'	'	'	'	'	'
Reimbursement revenue	'	'	$500,000	'	'	'
Profit share	'	'	'	50.00%	'	50.00%
Net expense reimbursement after CAPM	'	'	'	0	839,000	'
Total collaboration revenue	$0	$839,000	'	$0	$839,000	'

Summary_of_Significant_Account4

Summary of Significant Accounting Policies (Net Loss Per Common Share) (Details)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Options to purchase common stock [Member]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Antidilutive securities	1,598	4,803
Common stock issuable pursuant to the 2006 Employee Stock Purchase Plan [Member]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Antidilutive securities	0	125
Restricted Stock Units (RSUs) [Member]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Antidilutive securities	0	437
Warrant to purchase common stock [Member]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Antidilutive securities	0	424

Advance_from_Takeda_Launch_All

Advance from Takeda (Launch Allowance) (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014
			United States of America [Member]	United States of America [Member]	United States of America [Member]	United States of America [Member]
			Takeda Pharmaceutical Company Limited [Member]	Takeda Pharmaceutical Company Limited [Member]	Takeda Pharmaceutical Company Limited [Member]	Takeda Pharmaceutical Company Limited [Member]
			Product Development and Commercialization [Member]	Product Development and Commercialization [Member]	Product Development and Commercialization - June 2006 Agreement [Member]	Product Development and Commercialization - June 2006 Agreement [Member]
			Cost sharing agreements [Member]	Launch Allowance - Cost sharing agreements [Member]		Launch Allowance - Cost sharing agreements [Member]
Development and Commercialization agreements with Takeda	'	'	'	'	'	'
Cost sharing percentage of third party development expenses	'	'	70.00%	'	'	'
Percentage of third-party commercialization expenses to be borne	'	'	'	50.00%	'	'
Payments received from collaborative agreement	'	'	'	'	'	$20,000,000
Percentage of net sales deducted from the profit share	'	'	'	'	'	8.00%
Amount of threshold limit of deduction from net sales from the profit share	'	'	'	'	'	11,000,000
Advance from Takeda	8,189,000	8,189,000	'	'	8,189,000	10,000,000
Fixed interest amount	'	'	'	'	'	$1,000,000

StockBased_Compensation_Statem

Stock-Based Compensation (Statements of Operations) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]	'	'
Stock-based compensation expense	$484	$3,717
Research and Development Expense [Member]	'	'
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]	'	'
Stock-based compensation expense	0	1,244
Selling, General and Administrative Expenses [Member]	'	'
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]	'	'
Stock-based compensation expense	$484	$2,473

StockBased_Compensation_Stock_

Stock-Based Compensation (Stock Options) (Details) (Stock Options [Member], USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014
Stock Options [Member]	'
Number of Shares	'
Share-based payment award, beginning balance (shares)	1,839,857
Forfeited (shares)	-5,236
Cancelled (shares)	-236,773
Share-based payment award, ending balance (shares)	1,597,848
Options exercisable (shares)	1,370,003
Weighted- Average Exercise Price (Per Share)	'
Share-based payment award, beginning balance (per share)	$16.24
Granted (per share)	$0
Exercised (per share)	$0
Forfeited (per share)	$15.65
Cancelled (per share)	$21.18
Share-based payment award, ending balance (per share)	$15.50
Options exercisable (per share)	$16.16
Weighted- Average Remaining Contractual Term (in years)	'
Share-based payment award, ending balance, weighted average remaining contractual term	'3 years 9 months 5 days
Options exercisable weighted average remaining contractual term	'3 years 1 month 1 day
Aggregate Intrinsic Value	'
Options, intrinsic value	$0
Options exercisable, Intrinsic value	$0

Restructuring_Charge_Details

Restructuring Charge (Details) (USD $)	3 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Restructuring Cost and Reserve [Line Items]	'	'	'
2013 Restructuring charge	($101)	$8,216	'
2013 Restructuring Plan [Member]	'	'	'
Restructuring Cost and Reserve [Line Items]	'	'	'
2013 Restructuring charge	'	8,200	16,100
Accrual balance and utilization by type for the restructuring	'	'	'
Balance at the beginning of the period	315	'	'
Cash payments	-35	'	'
Adjustments	-101	'	'
Balance at the end of the period	$179	'	$315