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Keryx (KERX) Posts Narrower Than Expected Q4 Loss, Sales Beat

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Keryx Biopharmaceuticals Inc. (KERX - Free Report) ) is a Boston-based biopharmaceutical company working in the field of renal diseases.

The company’s only product is Auryxia (ferric citrate) which is marketed in the United States since 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.  Auryxia is also approved by the FDA to treat adults with iron deficiency anemia and CKD, not on dialysis. Keryx’s top line comprises license revenues and revenues earned from Auryxia sales.

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 25.57%.

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 first-quarter 2018 loss was narrower-than-expected. The company posted a loss of 18 cents per share narrower than consensus estimate of a loss of 19 cents.

Revenues: Revenues beat expectations. Keryx posted revenues of $21.7 million, abovethe consensus estimate of $21 million.

Key Stats: Auryxia net U.S. product sales came in at $20.6 million, up from $10.5 million in the year ago quarter. The  increase was due to increase in Auryxia prescription and tablet demand,

Share Price Impact: The shares were down  almost 0.8% in pre-market trading.

 

Check back later for our full write up on KERX earnings report later!

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