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 (NDD) CKD.
Keryx’s top line comprises license revenue and revenues earned from Auryxia sales. Meanwhile, ferric citrate is being evaluated in a phase III study for the treatment of iron-deficiency anemia in patients suffering from stage III–V NDD CKD.
Keryx’s track record has been disappointing so far. Over the four trailing quarters, the company has posted an average negative earnings surprise of 16.50%.
Currently, Keryx has a Zacks Rank #2 (Buy), 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 second-quarter 2016 loss was wider-than-expected. The company posted a loss of 42 cents per share, while the Zacks Consensus Estimate was a loss of 29 cents.
Revenue: Revenues were, however, above our estimates. Keryx posted revenues of $9.3 million, while the Zacks Consensus Estimate is $9 million.
Key Stats: While Auryxia continues to drive revenues at Keryx, the company is solely dependent on the drug for growth. The company plans to submit a regulatory application for ferric citrate for the treatment of iron deficiency anemia in patients suffering from stage III-V non-dialysis dependent CKD to the FDA late in the third quarter of 2016.
Guidance: Keryx has withdrawn its 2016 financial guidance, primarily due to an anticipated supply interruption of Auryxia. Keryx has noted that a supply interruption is going to occur due to a production-related issue in converting API to finished drug product at its contract manufacturer.
Check back later for our full write up on this Keryx earnings report later!
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Keryx (KERX) Q2 Loss Wider than Expected, Withdraws View
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 (NDD) CKD.
Keryx’s top line comprises license revenue and revenues earned from Auryxia sales. Meanwhile, ferric citrate is being evaluated in a phase III study for the treatment of iron-deficiency anemia in patients suffering from stage III–V NDD CKD.
Keryx’s track record has been disappointing so far. Over the four trailing quarters, the company has posted an average negative earnings surprise of 16.50%.
Currently, Keryx has a Zacks Rank #2 (Buy), 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 second-quarter 2016 loss was wider-than-expected. The company posted a loss of 42 cents per share, while the Zacks Consensus Estimate was a loss of 29 cents.
Revenue: Revenues were, however, above our estimates. Keryx posted revenues of $9.3 million, while the Zacks Consensus Estimate is $9 million.
Key Stats: While Auryxia continues to drive revenues at Keryx, the company is solely dependent on the drug for growth. The company plans to submit a regulatory application for ferric citrate for the treatment of iron deficiency anemia in patients suffering from stage III-V non-dialysis dependent CKD to the FDA late in the third quarter of 2016.
Guidance: Keryx has withdrawn its 2016 financial guidance, primarily due to an anticipated supply interruption of Auryxia. Keryx has noted that a supply interruption is going to occur due to a production-related issue in converting API to finished drug product at its contract manufacturer.
KERYX BIOPHARMA Price
KERYX BIOPHARMA Price | KERYX BIOPHARMA Quote
Check back later for our full write up on this Keryx earnings report later!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report >>