NEW YORK, Jan. 23, 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 jurisdiction.
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.
KERYX CONTACT:
Lauren Fischer
Director - Investor Relations
Keryx Biopharmaceuticals, Inc.
Tel: +1-212-531-5965
E-mail: lfischer@keryx.com