Keryx Biopharmaceuticals, Inc.
(NASDAQ: KERX) is a biopharmaceutical company focused on the research,
development and commercialization of pharmaceutical products that provide
unique and meaningful advantages to patients with renal disease. In December
2014, the company launched its first FDA-approved product, Auryxia™, in the
United States for the treatment of elevated serum phosphorus levels in patients
with chronic kidney disease (CKD) on dialysis. Keryx’s novel treatment is also
being commercialized in Japan as Riona® for the treatment of patients with all
stages of CKD by the company’s Japanese partner.
According to the National Kidney
Foundation, approximately 26 million Americans currently suffer from kidney
disease. Among those individuals, approximately 450,000 people are on dialysis
treatments. For these people, maintaining serum phosphorus levels is
imperative. An additional report by the National Kidney Foundation states that
prolonged exposure to elevated phosphorus levels has been shown to cause
increases in calcium-phosphate production, which is commonly associated with
increased morbidity and, in many cases, mortality. This data highlights the
immense market potential of Auryxia moving forward.
In the first quarter of 2015,
Keryx leveraged the marketability of its groundbreaking product to record
promising financial results. The company reported total revenue of
approximately $1.2 million, including both U.S. product revenue and license revenue
associated with sales of Riona in Japan. These figures are expected to rise in
the future. In June, Keryx announced that Auryxia had been added to the
Medicare Part D formularies of two national insurance providers, giving the
company access to approximately 65 percent of people in the United States
currently taking phosphate binders.
“The inclusion of Auryxia on the
major insurance providers’ Part D formularies, which we expect will start
processing claims in the third quarter, significantly expands unrestricted
access to Auryxia for people on dialysis and their caregivers,” Greg Madison,
chief executive officer of Keryx, stated in a news release. “Looking ahead, we
are focused on continuing to raise awareness of Auryxia’s clinical profile
among the prescribing community and ensuring that the vast majority of dialysis
patients have access to this important medicine.”
In addition to plans of adding a
team of field sales representatives in the months to come, the company’s
short-term objectives include expanding the indication for Auryxia to include
the treatment of iron deficiency anemia in patients with CKD. In September
2014, Keryx initiated a phase III study for this indication which is expected
to be completed by the end of 2015.
For more information, visit
www.keryx.com
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