Keryx Rises As Zerenex Succeeds in Japan Study
From Associated Press (April 23, 2012)
NEW YORK -- Keryx Biopharmaceuticals said Monday its kidney disease drug Zerenex met its goal in a late-stage clinical trial in Japan, and shares of Keryx surged.
The company said Zerenex worked as well as an older drug, RenaGel, as a treatment for high phosphate levels in dialysis patients with end-stage kidney disease. The study lasted 12 weeks and was conducted by Keryx’s partners Japanese Tobacco Inc. and Torii Pharmaceutical Co.
Keryx said those companies plan to file for marketing approval in Japan in the current fiscal year, which ends March 31. Keryx expects to complete a late-stage U.S. trial of Zerenex in the fourth quarter of 2012 and it hopes to file for marketing approval shortly thereafter.
Shares of Keryx Biopharmaceuticals Inc. rose 30 cents, or 22 percent, to $1.66 in afternoon trading.
Posted: April 2012