Affymax Jumps 10%

Shares of Affymax AFFY are soaring again on Wednesday. Heading into the final hour of trade, the stock was up nearly 10 percent to above $26.00. Over the last month, AFFY has risen nearly 38 percent and the shares have climbed 410 percent over the last year. Volume has been very heavy on Wednesday with around two million AFFY shares trading hands compared to a three month daily average of under one million. The company gained approval for its drug Omontys last March, and this has been the catalyst for the stock. The drug treats anemia in dialysis patients who are suffering from chronic kidney disease.