Keryx Biopharmaceuticals Announces Pricing of Public Offering of Common Stock
NEW YORK, Jan. 22, 2014
NEW YORK, Jan. 22, 2014 /PRNewswire/ --Keryx Biopharmaceuticals, Inc.
(NASDAQ: KERX) today announced the pricing of an underwritten public offering
of common stock consisting of 6,900,000 shares at $14.50 per share. In
connection with this offering, Keryx granted 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. Keryx intends to
use the net proceeds from the sale of our common stock to fund
pre-launch/launch inventory build-up and pre-commercial/commercial activities
related to Zerenex, the ongoing development of Zerenex in pre-dialysis, and
other general corporate purposes.
J.P. Morgan Securities LLC is acting as sole book-running manager in the
offering. The co-managers for the offering are Oppenheimer & Co. Inc., JMP
Securities LLC, Stifel, Nicolaus & Company, Incorporated, Roth Capital
Partners, LLC, Brean Capital, LLC, Ladenburg Thalmann & Co. Inc., and H.C.
Wainwright & Co., LLC. Maxim Group LLC and Trout Capital LLC are acting as
advisors to the company.
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
prospectus supplement that Keryx has filed with the SEC for more complete
information about Keryx and this offering. The prospectus supplement is
available for free by visiting EDGAR on the SEC's website located at
www.sec.gov. Copies of the 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
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
coordination complex), 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. Keryx's New Drug Application ("NDA"), submitted to the FDA in
2013, is currently under review and has an assigned Prescription Drug User Fee
Act ("PDUFA") goal date of June 7, 2014. Zerenex has also completed a Phase 2
study in the U.S. for the management of elevated serum phosphorus levels and
iron deficiency anemia in patients with Stage 3 to 5 non-dialysis dependent
chronic kidney disease. Top-line results from this Phase 2 study were
announced on November 5, 2013. In addition, Keryx's Japanese partner, Japan
Tobacco Inc. and Torii Pharmaceutical Co., Ltd., which filed its NDA in Japan
in 2013, received approval of ferric citrate in Japan for the treatment of
hyperphosphatemia in patients with chronic kidney disease on January 17,
2014. Keryx is headquartered in New York City.
Director - Investor Relations
Keryx Biopharmaceuticals, Inc.
SOURCE Keryx Biopharmaceuticals
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