Keryx Biopharmaceuticals Inc. is a Boston-based biopharmaceutical company working in the field of renal diseases.
The company’s only marketed product, Auryxia (ferric citrate) was approved in the U.S. in Sep 2014 for the control of serum phosphorus levels in patients with chronic kidney disease (CKD) on dialysis. In Sep 2015, Keryx gained EU approval for Fexeric (EU trade name for Auryxia) for the control of elevated serum phosphorus levels, or hyperphosphatemia, in adult patients with CKD, including dialysis and non-dialysis dependent CKD. Keryx’s top line comprises license revenues and revenues earned from Auryxia sales.
Keryx’s share price has decreased 14.2% year to date, while the Zacks classified Medical-Medical Services industry gained 5.5%.
In August 2016, Keryx announced an interruption in the supply of Auryxia, as its contract manufacturer had issues related to the conversion of the API into the finished product, leading to a disruption in the supply of Auryxia. Consequently, the company withdrew its guidance for 2016. However, in Nov 2016, Keryx announced that the FDA has approved a second drug product manufacturer, Patheon Manufacturing Services, for supplying Auryxia as a finished product. Following the approval, the company has rebuilt supply and expects to make Auryxia available to wholesalers.
Keryx’s earnings track record has been disappointing so far. Over the four trailing quarters, the company has posted an average negative earnings surprise of 43.03%.
Currently, Keryx has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Keryx’s fourth-quarter 2016 loss was wider-than-expected. The company posted a loss of 32 cents per share wider than consensus estimate of a loss of 27 cents.
Revenues: Revenues, however, surpassed expectations. Keryx posted revenues of $9.5 million above the consensus estimate of $7 million.
Key Stats: Auryxia net U.S. product sales came in at $8.2 million, up 70.8% from the year-ago quarter.
Share Price Impact: The shares of the company were up 2.4% in pre-market trading.
Check back later for our full write up on KERX earnings report later!
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Keryx (KERX) Posts Wider-than-Expected Loss in Q4
Keryx Biopharmaceuticals Inc. is a Boston-based biopharmaceutical company working in the field of renal diseases.
The company’s only marketed product, Auryxia (ferric citrate) was approved in the U.S. in Sep 2014 for the control of serum phosphorus levels in patients with chronic kidney disease (CKD) on dialysis. In Sep 2015, Keryx gained EU approval for Fexeric (EU trade name for Auryxia) for the control of elevated serum phosphorus levels, or hyperphosphatemia, in adult patients with CKD, including dialysis and non-dialysis dependent CKD. Keryx’s top line comprises license revenues and revenues earned from Auryxia sales.
Keryx’s share price has decreased 14.2% year to date, while the Zacks classified Medical-Medical Services industry gained 5.5%.
In August 2016, Keryx announced an interruption in the supply of Auryxia, as its contract manufacturer had issues related to the conversion of the API into the finished product, leading to a disruption in the supply of Auryxia. Consequently, the company withdrew its guidance for 2016. However, in Nov 2016, Keryx announced that the FDA has approved a second drug product manufacturer, Patheon Manufacturing Services, for supplying Auryxia as a finished product. Following the approval, the company has rebuilt supply and expects to make Auryxia available to wholesalers.
Keryx’s earnings track record has been disappointing so far. Over the four trailing quarters, the company has posted an average negative earnings surprise of 43.03%.
Currently, Keryx has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Keryx’s fourth-quarter 2016 loss was wider-than-expected. The company posted a loss of 32 cents per share wider than consensus estimate of a loss of 27 cents.
Revenues: Revenues, however, surpassed expectations. Keryx posted revenues of $9.5 million above the consensus estimate of $7 million.
Key Stats: Auryxia net U.S. product sales came in at $8.2 million, up 70.8% from the year-ago quarter.
Share Price Impact: The shares of the company were up 2.4% in pre-market trading.
Check back later for our full write up on KERX earnings report later!
Keryx Biopharmaceuticals, Inc. Price and EPS Surprise
Keryx Biopharmaceuticals, Inc. Price and EPS Surprise | Keryx Biopharmaceuticals, Inc. Quote
Everything You Need to Know About Snapchat BEFORE It Goes Public
You may be curious about the buzz surrounding Snap Inc.'s IPO on March 2. With the company expected to be valued around $22 billion, it is expected to be the largest IPO since 2014. But should you snap up this tech stock on Day 1? In the 2017 IPO Watch List, you'll get an inside look at Snap's exciting prospects and potential challenges. You'll also learn about 4 other exciting tech companies with jaw-dropping growth. Each could go public in the coming months. Imagine being in the first wave of investors to jump on a company with almost unlimited growth potential? This Special Report gives you the latest scoop. Download this IPO Watch List today for free >>