Keryx Biopharmaceuticals, Inc. Announces Pricing of $110 Million Public Offering of Common Stock
January 21 2015 - 6:53PM
Keryx Biopharmaceuticals, Inc. (Nasdaq:KERX) today announced the
pricing of an underwritten public offering of common stock
consisting of 9,166,667 shares at $12.00 per share, for gross
proceeds of $110 million. 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 its common stock to fund the ongoing
commercialization and development of Auryxia™ (ferric citrate) in
the US, pre-commercial activities in Europe, to potentially
in-license, acquire and develop additional drug candidates, and
other general corporate purposes.
J.P. Morgan Securities LLC is acting as sole book-running
manager in the offering. The lead manager for the offering is Cowen
and Company, LLC. Co-managers for the offering are Oppenheimer
& Co. Inc.; JMP Securities LLC; Stifel, Nicolaus & Company,
Incorporated; Mizuho Securities USA; Roth Capital Partners, LLC;
Brean Capital, LLC; Ladenburg Thalmann & Co. Inc.; Maxim Group
LLC; H.C. Wainwright & Co.; and MLV and Company LLC. Trout
Capital LLC is acting as an advisor 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, 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: KERYX 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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