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Keryx Biopharmaceuticals Inc (KERX.OQ)

KERX.OQ on NASDAQ Stock Exchange Capital Market

4.47USD
18 Jul 2018
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Latest Key Developments (Source: Significant Developments)

Akebia Therapeutics And Keryx Biopharmaceuticals To Merge
Thursday, 28 Jun 2018 

June 28 (Reuters) - Akebia Therapeutics Inc ::AKEBIA THERAPEUTICS AND KERYX BIOPHARMACEUTICALS TO MERGE, CREATING A FULLY INTEGRATED COMPANY FOCUSED ON THE DEVELOPMENT AND COMMERCIALIZATION OF THERAPEUTICS FOR PATIENTS WITH KIDNEY DISEASE.SAYS IMPLIED PRO FORMA EQUITY VALUE OF COMBINED CO IS ABOUT $1.3 BILLION.SAYS KERYX SHAREHOLDERS WILL RECEIVE 0.37433 COMMON SHARES OF AKEBIA FOR EACH SHARE OF KERYX THEY OWN.SAYS JOHN P. BUTLER TO BE PRESIDENT AND CHIEF EXECUTIVE OFFICER OF COMBINED COMPANY; KERYX TO APPOINT CHAIRPERSON OF BOARD.SAYS COMBINED COMPANY WILL HAVE $453 MILLION IN CASH ON ITS BALANCE SHEET (UNAUDITED PRO FORMA CASH BALANCE AS OF MARCH 31, 2018).SAYS BOARD OF DIRECTORS OF COMBINED COMPANY EXPECTED TO CONSIST OF NINE DIRECTORS, FOUR FROM AKEBIA DIRECTORS, FOUR FROM KERYX DIRECTORS.SAYS BOARDS OF BOTH COMPANIES HAVE UNANIMOUSLY APPROVED, A DEFINITIVE MERGER UNDER WHICH COS WILL COMBINE IN AN ALL-STOCK MERGER.SAYS DEAL RESULTS IN IMPLIED EQUITY OWNERSHIP IN COMBINED CO OF 49.4 PERCENT FOR CO SHAREHOLDERS, 50.6 PERCENT FOR KERYX SHAREHOLDERS ON FULLY-DILUTED BASIS.SAYS JASON A. AMELLO, AKEBIA'S CFO, IS EXPECTED TO SERVE IN SAME CAPACITY ON MANAGEMENT TEAM OF COMBINED COMPANY.SAYS KERYX WILL APPOINT CHAIRPERSON OF BOARD OF DIRECTORS OF COMBINED COMPANY.SAYS EXPECTED COST SYNERGIES OF GREATER THAN $250 MILLION TO BE REALIZED FIVE YEARS FOLLOWING CLOSING OF DEAL.  Full Article

Keryx Biopharmaceuticals Reports Q1 Loss Per Share Of $0.18
Thursday, 10 May 2018 

May 10 (Reuters) - Keryx Biopharmaceuticals Inc ::KERYX BIOPHARMACEUTICALS ANNOUNCES FIRST QUARTER 2018 FINANCIAL RESULTS.Q1 LOSS PER SHARE $0.18.Q1 REVENUE $21.7 MILLION VERSUS I/B/E/S VIEW $21.8 MILLION.Q1 EARNINGS PER SHARE VIEW $-0.18 -- THOMSON REUTERS I/B/E/S.CASH AND CASH EQUIVALENTS AS OF MARCH 31, 2018 TOTALED $60.1 MILLION.  Full Article

Keryx Biopharmaceuticals Sees Total Revenue For Qtr Ended March 31, 2018 Between $21.0 Mln And $22.5 Mln
Monday, 30 Apr 2018 

April 30 (Reuters) - Keryx Biopharmaceuticals Inc ::KERYX BIOPHARMACEUTICALS SEES TOTAL REVENUE FOR QUARTER ENDED MARCH 31, 2018 OF BETWEEN $21.0 MILLION AND $22.5 MILLION - SEC FILING.SAYS CEO AND PRESIDENT GREGORY MADISON RESIGNED.APPOINTED JODIE MORRISON AS INTERIM CHIEF EXECUTIVE OFFICER.REDUCED SIZE OF BOARD FROM EIGHT DIRECTORS TO SEVEN DIRECTORS.  Full Article

Keryx Biopharma Says Norwich Pharmaceuticals Agreed To Terminate Manufacturing Services Agreement
Thursday, 28 Dec 2017 

Dec 27 (Reuters) - Keryx Biopharmaceuticals Inc ::KERYX BIOPHARMACEUTICALS- ON DEC 20,CO,NORWICH PHARMACEUTICALS AGREED TO TERMINATE MANUFACTURING SERVICES AGREEMENT BETWEEN CO,NPI,DATED JAN 17, 2014‍​.KERYX BIOPHARMACEUTICALS SAYS ‍TERMINATION OF AGREEMENT EFFECTIVE AS OF DEC 31, 2017​ - SEC FILING.  Full Article

U.S. FDA approves Auryxia tablets as treatment for people with iron deficiency anemia and chronic kidney disease
Tuesday, 7 Nov 2017 

Nov 7 (Reuters) - Keryx Biopharmaceuticals Inc :U.S. FDA approves Auryxia® (ferric citrate) tablets as a treatment for people with iron deficiency anemia and chronic kidney disease, not on dialysis.  Full Article

Keryx Biopharmaceuticals Q3 loss per share $0.20
Tuesday, 7 Nov 2017 

Nov 7 (Reuters) - Keryx Biopharmaceuticals Inc :Keryx Biopharmaceuticals announces third quarter 2017 financial results.Q3 loss per share $0.20.Q3 revenue $15 million versus I/B/E/S view $17.9 million.Q3 earnings per share view $-0.18 -- Thomson Reuters I/B/E/S.Keryx Biopharmaceuticals Inc- ‍cash and cash equivalents as of Sept 30, 2017 totaled $114.0 million compared to $111.8 million as of Dec 31, 2016​.  Full Article

Keryx Biopharmaceuticals withdraws 2016 financial guidance
Monday, 1 Aug 2016 

Keryx Biopharmaceuticals Inc : Company withdraws its 2016 financial guidance . Company announces interruption in supply of Auryxia(ferric citrate) . Supply interruption does not affect safety profile of currently available Auryxia . Expects to make Auryxia available to patients when supply of Auryxia is back to adequate levels . Total revenues for quarter ended June 30, 2016 were about $9.3 million, compared with $2.5 million last year . Supply of Auryxia is expected to be back to adequate levels during Q4 of 2016 . Expects to file a supplemental new drug application (SNDA) with FDA late in Q3 of 2016 . Determined supply interruption is going to occur due to production-related issue in converting API to finished product at contract manufacturer . Current inventories of Auryxia are not sufficient to ensure uninterrupted patient access to this medicine . Issue resulted in variable production yields of finished drug product and company has exhausted its reserve of finished drug product . Says at this time, current inventories of Auryxia are not sufficient to ensure uninterrupted patient access to Auryxia . Says supply interruption does not affect safety profile of currently available Auryxia . Working with its existing manufacturer to resolve production-related issue and rebuild adequate supply . "We believe we are well positioned financially to manage through this interruption in supply of Auryxia".  Full Article