Last $13.46 USD
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Volume 2.8M
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As of 8:10 PM 04/17/14 All times are local (Market data is delayed by at least 15 minutes).

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keryx biopharmaceuticals (KERX) Details

Keryx Biopharmaceuticals, Inc., a biopharmaceutical company, focuses on the acquisition, development, and commercialization of pharmaceutical products for the treatment of renal disease in the United States. It is developing Zerenex (ferric citrate), an oral, ferric iron-based compound that has the capacity to bind to phosphate in the gastrointestinal tract and form non-absorbable complexes. The company has completed Phase III clinical program for Zerenex for the treatment of hyperphosphatemia (elevated phosphate levels) in patients with chronic kidney disease on dialysis. Zerenex has also completed a Phase II study for the management of elevated serum phosphorus levels and iron deficiency anemia in patients with stages three to five non-dialysis dependent chronic kidney disease. The company has sublicense agreements with Japan Tobacco Inc. and Torii Pharmaceutical Co., Ltd. for the development and commercialization of Zerenex in Japan. It also has strategic alliances with Panion & BF Biotech, Inc. Keryx Biopharmaceuticals, Inc. was founded in 1997 and is headquartered in New York, New York.

41 Employees
Last Reported Date: 03/13/14
Founded in 1997

keryx biopharmaceuticals (KERX) Top Compensated Officers

Chief Executive Officer, Director and Member ...
Total Annual Compensation: $300.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $265.0K
Compensation as of Fiscal Year 2012.

keryx biopharmaceuticals (KERX) Key Developments

Keryx Biopharmaceuticals Inc. Announces Board Appointments

Keryx Biopharmaceuticals Inc. announced the appointment of three key executives in high priority strategic roles integral to the preparation for the potential Zerenex(TM) (ferric citrate coordination complex) product launch. Brian R. Adams has been appointed Vice President, General Counsel. Mr. Adams comes to the company with significant legal and business management experience within the pharmaceutical industry. Mr. Adams joins the company from Algeta ASA. Thomas M. Edwards has been appointed Vice President, US Sales, and will focus on building and leading the US Sales and Sales Training organization. Mr. Edwards comes to the company from Genzyme Corporation, where, since 2006, he has served in positions of increasing leadership responsibility, culminating in the role of Head of US Sales for the Metabolic and Cardiovascular division. Amy B. Sullivan has been appointed Vice President, Corporate Development and Public Affairs, and will be responsible for strategic planning, corporate reputation management, corporate communications, investor relations, government affairs and employee communications. Most recently, and since 2009, Ms. Sullivan served as Vice President of Investor Relations and Corporate Communications for AMAG Pharmaceuticals, overseeing the company's investor relations, public relations, and employee communications activities.

Keryx Biopharmaceuticals Announces Zerenex(TM) (Ferric Citrate Coordination Complex) Phase 2 Results in Non-Dialysis Dependent Chronic Kidney Disease

Keryx Biopharmaceuticals Inc. announced that Phase 2 clinical results of Zerenex(TM) (ferric citrate coordination complex) in non-dialysis dependent chronic kidney disease (NDD-CKD) patients with elevated serum phosphorus and iron deficiency anemia has been selected as a Late Breaking oral presentation at the National Kidney Foundation 2014 Spring Clinical Meeting, taking place April 22-26, 2014 in Las Vegas, NV. This presentation, entitled "Zerenex(TM) (Ferric Citrate) for the Treatment of Iron-Deficiency Anemia and Reduction of Serum Phosphate in Non-Dialysis Dependent CKD," will be made during the Late Breaking Session on April 25, 2014, from 9:30am - 11:00am PDT, by Dr. Geoffrey Block, Director of Clinical Research at Denver Nephrology and Co-Chairman for this study. In addition to the late-breaking oral presentation, the following four abstracts have also been selected for poster presentation during the meeting. "Phosphorus Binding with Ferric Citrate is Associated with Fewer Hospitalizations and Reduced Hospitalization Costs," R. Rodby, poster number 422; "Economic Impact of Ferric Citrate Versus Standard of Care for Hemodialysis Patients," S. Brunelli, poster number 156; "Phosphorus Binding with Ferric Citrate Reduces Erythropoiesis-Stimulating Agent (ESA) and IV Iron Usage and Cost in Patients with ESRD," R. Rodby, poster number 415; and "Oral Ferric Citrate Eliminates the Need for Intravenous (IV) Iron in Dialysis Patients," M. Sika, poster number 79. Posters will be presented in the Exhibit Hall on April 23, from 6:00pm-7:30pm PDT.

Securities Fraud Class Action Against Keryx Biopharmaceuticals Inc. Not Adequately Alleged

The U.S. District Court for the Southern District of New York dismissed a securities fraud class action brought against a Keryx Biopharmaceutical Inc. arising from alleged misstatements made concerning the test results of a clinical trial. Shareholders in Keryx Biopharmaceutical Inc. sued the firm and certain of its officers and directors, alleging violations of the Securities Exchange Act of 1934 arising from the material omission of adverse facts regarding pharmaceuticals under development by the company. The complaint alleged the defendants made representations concerning the phase 2 clinical trial test results of perifosine, a drug under development by the company for the treatment of metastatic colorectal cancer. When corrective disclosures were made to the market, the firm's stock priced dropped, to the plaintiffs' material detriment. The defendants moved to dismiss. The district court held that at their core, the plaintiffs' allegations as to falsity amounted to a desire to have known aspects of the methodology used in the phase 2 trial earlier than those details were fully disclosed, which occurred in October 2011. The complaint alleged that given the extent of the methodological flaws, the defendants' statements regarding the phase 2 results were actionable misstatements.


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