Keryx Biopharmaceuticals, Inc. Announces $100 Million Proposed Public Offering of Common Stock
January 20 2015 - 3:05PM
Keryx Biopharmaceuticals, Inc. (Nasdaq:KERX) today announced that
it has commenced a $100 million underwritten public offering of
shares of its common stock. In connection with this offering, Keryx
expects to grant 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. J.P. Morgan is
acting as the sole book-running manager in the offering. Keryx
intends to use the net proceeds from the sale of its common stock
to fund the ongoing commercialization and development of Auryxia in
the US, pre-commercial activities in Europe, to potentially
in-license, acquire and develop additional drug candidates, and
other general corporate purposes.
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 preliminary
prospectus supplement that Keryx has filed with the SEC for more
complete information about Keryx and this offering. The preliminary
prospectus supplement is available for free by visiting EDGAR on
the SEC's website located at www.sec.gov. Copies of the preliminary
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. The offering is subject to market
conditions, and there can be no assurance as to whether or when the
offering may be completed, or as to the actual size or terms of the
offering.
About Keryx Biopharmaceuticals, Inc.
Keryx Biopharmaceuticals, headquartered in New York, is focused
on bringing innovative therapies to market for patients with renal
disease. The Company launched its first FDA-approved product,
Auryxia, in the United States in December 2014. In January 2014,
ferric citrate was approved for the treatment of patients with all
stages of CKD in Japan, where it is being marketed as Riona® by
Keryx's Japanese partner, Japan Tobacco Inc. and Torii
Pharmaceutical Co. Ltd. For more information about Keryx,
please visit www.keryx.com.
Cautionary Statement
Some of the statements included in this press release,
particularly those regarding the commercialization and subsequent
clinical development of Auryxia, may be forward-looking statements
that involve a number of risks and uncertainties. For those
statements, we claim the protection of the safe harbor for
forward-looking statements contained in the Private Securities
Litigation Reform Act of 1995. Among the factors that could cause
our actual results to differ materially are the following: whether
Auryxia will be successfully launched and marketed in the U.S.;
whether Riona® will be successfully marketed by our Japanese
partner, Japan Tobacco, Inc. and Torii
Pharmaceutical Co., Ltd; the risk that the EMA may not concur with
our interpretation of our registration studies in ESRD and
non-dialysis dependent chronic kidney disease, supportive data,
conduct of the studies, or any other part of our MAA submission and
could ultimately deny approval of the MAA; the risk that we may not
be successful in the development of ferric citrate for the
treatment of iron deficiency anemia in non-dialysis chronic kidney
disease patients; and other risk factors identified from time to
time in our reports filed with the Securities and Exchange
Commission. Any forward-looking statements set forth in this press
release speak only as of the date of this press release. We do not
undertake to update any of these forward-looking statements to
reflect events or circumstances that occur after the date hereof.
This press release and prior releases are available at
http://www.keryx.com. The information found on our website is not
incorporated by reference into this press release and is included
for reference purposes only.
CONTACT: Amy Sullivan, Vice President - Corporate Development
and Public Affairs
Keryx Biopharmaceuticals, Inc.
Tel: 617.466.3447
E-mail: amy.sullivan@keryx.com
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