Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Affymax
So What: If Affymax gets its Hematide anemia drug approved by the FDA, it's likely to prove a strong competitor to leading anemia treatments maker Amgen
Now What: Legal disputes are never easy to call from the sidelines, but given what's at stake, you need a high threshold for risk if you're planning to buy Affymax on the current share price weakness. On the other hand, the potential rewards are massive if Affymax wins and Hematide makes it to market, so Affymax could be a reasonable speculative play for those comfortable with the risks involved.