Keryx Biopharmaceuticals (NASDAQ:KERX) Closes In Red

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In the last trading session, the stock price of Keryx Biopharmaceuticals (NASDAQ:KERX) declined almost 3% to close the week at $5.69. Recently, the biopharma firm focused drugs targeting renal disease, stated that the country’s Medicare Part D plan promoter added Auryxia® to its popular Medicare Part D program formularies, effective immediately. Auryxia is indicated in the United States for keeping a check on serum phosphorus levels in people with chronic kidney disease, and are on dialysis. This development extends unrestricted access of Auryxia for people on dialysis and their caregivers.

The financial performance

Recently, Keryx assessed its commercial development with Auryxia and imminent milestones. Gregory Madison, the CEO, said that they have started 2017 on a strong note with Auryxia in the people suffering with dialysis. At a time when the market for phosphate binder dropped, Auryxia prescriptions surged to almost 4,650 in January, a jump of 3.3% from the almost 4,500 prescriptions recorded in December 2016.

Mr. Madison added that they look forward to significant milestones in the imminent year that would record continued progress toward their objective of exploiting Auryxia’s potential. These comprise continued development in the U.S. dialysis industry, assignment and acceptance of a target assessment date for the additional new drug application filed earlier this year to the U.S. FDA to augment the scope of Auryxia for the treatment of IDA in adults with non-dialysis reliant chronic kidney disease, and later approval and release in late 2017. If permitted for this indication, Keryx’s lead drug Auryxia could be the first ever FDA-permitted oral medicine to cure IDA in this patient population.

In Q4 2016, net product sales for Auryxia in the United States stood at $8.2 million versus $4.8 million for the comparable quarter of 2015, an almost 70% jump despite the 3-month supply disruption from August to November 2016.

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