Keryx Biopharmaceuticals Announces $55 Million Proposed Public Offering of
NEW YORK, Jan. 29, 2013
NEW YORK, Jan. 29, 2013 /PRNewswire/ -- Keryx Biopharmaceuticals, Inc.
(NASDAQ: KERX) today announced that it has commenced a $55 million
underwritten public offering of shares of its common stock. In connection with
this offering, Keryx expects to grant to the underwriters a 30-day option to
purchase additional shares of common stock, equal to up to 15% of the number
of shares of common stock sold in the offering. J.P. Morgan is acting as the
sole book-running manager in the offering. We intend to use the net proceeds
from the sale of our common stock to fund pre-launch/launch inventory build-up
and select pre-commercial/commercial activities related to Zerenex, and other
general corporate purposes.
The securities described above are being offered by Keryx pursuant to a Form
S-3 shelf registration statement (including a base prospectus) previously
filed with the Securities and Exchange Commission ("SEC"). Before you invest,
you should read the prospectus in the registration statement and related
preliminary prospectus supplement that Keryx has filed with the SEC for more
complete information about Keryx and this offering. The preliminary prospectus
supplement is available for free by visiting EDGAR on the SEC's website
located at www.sec.gov. Copies of the preliminary prospectus supplement and
accompanying prospectus may also be obtained from the offices of J.P. Morgan
Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, New York 11717 (telephone: 866-803-9204).
This news release shall not constitute an offer to sell or the solicitation of
an offer to buy these securities, nor will there be any sale of these
securities in any state or other jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such state or other
jurisdiction. The offering is subject to market conditions, and there can be
no assurance as to whether or when the offering may be completed, or as to the
actual size or terms of the offering.
About Keryx Biopharmaceuticals, Inc.
Keryx Biopharmaceuticals is focused on the acquisition, development and
commercialization of medically important pharmaceutical products for the
treatment of renal disease. Keryx is developing Zerenex (ferric citrate), an
oral, ferric iron-based compound that has the capacity to bind to phosphate
and form non-absorbable complexes. Zerenex has completed a U.S.-based Phase 3
clinical program for the treatment of hyperphosphatemia (elevated phosphate
levels) in patients with end-stage renal disease, conducted pursuant to a
Special Protocol Assessment (SPA) agreement with the FDA, and Keryx expects to
submit an NDA with the FDA and a MAA with the EMA in the second quarter of
2013. Zerenex is also in Phase 2 development in the U.S. for the management
of phosphorus and iron deficiency in anemic patients with Stage 3 to 5
non-dialysis dependent chronic kidney disease. In addition, Keryx's Japanese
partner, Japan Tobacco Inc. and Torii Pharmaceutical Co., Ltd. has filed its
New Drug Application for marketing approval of ferric citrate in Japan for the
treatment of hyperphosphatemia in patients with chronic kidney disease. Keryx
is headquartered in New York City.
Director - Investor Relations
Keryx Biopharmaceuticals, Inc.
SOURCE Keryx Biopharmaceuticals, Inc.
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