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Keryx (KERX) Posts Wider Q4 Loss, Sales Beat, Shares Down

Zacks Equity Research

Keryx Biopharmaceuticals Inc. KERX) 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.  Keryx’s top line comprises license revenues and revenues earned from Auryxia sales.

In November 2017, the company received an approval by the FDA for an additional indication of Auryxia to treat adults with iron deficiency anemia and chronic kidney disease, not on dialysis and was launched in the fourth quarter of 2017.Keryx claims that Auryxia isthe only oral treatment option available for this indication. 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 19.09%.

Currently, Keryx has a Zacks Rank #4 (Sell), 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 fourth-quarter 2017 loss was wider-than-expected. The company posted a loss of 26 cents per share wider than consensus estimate of a loss of 18 cents.

Revenues: Revenues beat expectations. Keryx posted revenues of $18.7 million, abovethe consensus estimate of $17 million.

Key Stats: Auryxia net U.S. product sales came in at $17.3 million, up from $8.2 million in the year ago quarter. The company remains focused on driving growth in both indications for Auryxia in 2018.

Share Price Impact: The shares were down almost 0.2% in pre-market trading.

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

 

Keryx Biopharmaceuticals, Inc. Price and Consensus

 

Keryx Biopharmaceuticals, Inc. Price and Consensus | Keryx Biopharmaceuticals, Inc. Quote

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