Cohen Milstein Sellers & Toll PLLC Announces the Investigation of Keryx Biopharmaceuticals, Inc.

Cohen Milstein Sellers & Toll PLLC is conducting an investigation to determine whether Keryx Biopharmaceuticals, Inc. (“Keryx” or the “Company”) and certain of its officers and directors made false and misleading statements and/or omissions in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.

A class action lawsuit was filed in the U.S. District Court for the Southern District of New York by another law firm on behalf of purchasers of the common stock of Keryx Biopharmaceuticals, Inc. (NASDAQ: KERX) between February 25, 2016 and August 1, 2016, inclusive (the “Class Period”).

Keryx Biopharmaceuticals markets and develops treatments for renal disease. Its lead product is Auryxia. The complaint alleges that Keryx and certain of its officers and directors (“Defendants”) misrepresented and/or failed to disclose that: (1) production-related difficulties experienced by Keryx’s third-party contract manufacturer would require a halt to Auryxia manufacturing until the difficulties were resolved; (2) Keryx did not have enough inventory to meet stated sales guidance; (3) Keryx was attempting to secure FDA approval for a second manufacturer, but approval would not come until November 2016 at the earliest; and (4) therefore, Defendants’ statements about Keryx’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

On August 1, 2016, Keryx announced an “imminent” interruption in the supply of Auryxia “due to a production-related issue converting active pharmaceutical ingredient (API) to finished product.” The Company stated that it expected Auryxia production to resume in the fourth quarter of 2016 but still withdrew its 2016 guidance. The price of Keryx stock fell from $7.36 on July 29, 2016 to $4.72 on August 1, 2016.

Cohen Milstein encourages all investors who purchased Keryx common stock between February 25, 2016 and August 1, 2016, or former employees with information concerning this matter to contact the firm.

If you are a Keryx shareholder and would like to discuss your right to recover for your economic loss, you may, without any cost or obligation, call Cohen Milstein’s Managing Partner, Steven J. Toll at (888) 240-0775 or (202) 408-4600, or email him at stoll@cohenmilstein.com. If you wish to serve as lead plaintiff, you must move the Court no later than October 3, 2016 to request appointment. Any member of the proposed class may retain Cohen Milstein or other attorneys to serve as your counsel in this action, or you may do nothing and remain an absent class member.

Cohen Milstein has significant experience in prosecuting investor class actions and actions involving securities fraud, and is active in major litigation pending in federal and state courts throughout the nation. Cohen Milstein has taken a lead role in numerous important cases on behalf of defrauded investors, and has been responsible for a number of outstanding recoveries which, in the aggregate, total over two billion dollars. Prior results do not guarantee a similar outcome. For more information visit www.cohenmilstein.com.

If you have any questions about this notice or the action, or with regard to your rights, please contact either of the following:

Steven J. Toll, Esq.Ryan MarchbankCohen Milstein Sellers & Toll PLLC1100 New York Avenue, N.W.Suite 500 EastWashington, D.C. 20005Telephone: (888) 240-0775 or (202) 408-4600Email: stoll@cohenmilstein.com; rmarchbank@cohenmilstein.com

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View source version on businesswire.com: http://www.businesswire.com/news/home/20160811006105/en/

Cohen Milstein Sellers & Toll PLLCSteven J. Toll, Esq., 888-240-0775 or 202-408-4600stoll@cohenmilstein.comorRyan Marchbank, 888-240-0775 or 202-408-4600rmarchbank@cohenmilstein.com

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