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Affymax Raises $50M

Affymax (NASDAQ: AFFY), the Palo Alto, CA-based developer of an anemia drug, said today it has raised $50 million in gross proceeds through a stock offering. The company sold about 8.47 million new shares at $5.90 apiece, about an 8.5 percent discount from yesterday’s closing stock price of $6.45. Lazard Capital Markets and Stifel Nicolaus Weisel managed the offering.