Keryx Biopharmaceuticals Surges on Prospects for Kidney Drug
Shares of Keryx Biopharmaceuticals (NASDAQ:KERX) are surging after the company said its experimental drug for kidney dialysis patients met its goal for effectiveness in a late-stage study. Keryx plans to seek US and European approval for the drug in the second quarter. Shares of Keryx jumped more than 40% to $4.82 in late-morning trading Monday. The stock is up 56% over the past 12 months. The New York-based company said its drug Zerenex met its study target for lowering phosphate levels in the blood of patients with kidney failure. Patients on Keryx’s drug showed a statistically significant reduction compared ...
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