Key Developments: Keryx Biopharmaceuticals Inc (KERX.OQ)
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Latest Key Developments (Source: Significant Developments)
Levi & Korsinsky Announces Class Action Lawsuit Against Keryx Biopharmaceuticals Inc
Levi & Korsinsky announced that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased Keryx Biopharmaceuticals Inc stock between June 1, 2009 and April 1, 2012. The complaint alleges that the Company issued materially false and misleading statements concerning the timing and success of its perifosine X-PECT Phase 3 Clinical Trial. As a result of these alleged misstatements, Keryx stock traded at artificially inflated prices. On April 2, 2012, Keryx disclosed that its Phase 3 Clinical Trial did not meet the primary endpoint of improving overall patient survival versus the drug Capecitabine and a placebo. Shares of Keryx fell from a close of $4.98 per share on March 30, 2012, to a close of $1.74 per share the following business day. Full Article
Pomerantz Grossman Hufford Dahlstrom & Gross LLP Law Firm Reminds Shareholders WITH Losses On Their Investment in Keryx Biopharmaceuticals Inc Of Class Action Lawsuit And Upcoming Deadline
Pomerantz Grossman Hufford Dahlstrom & Gross LLP announced that it has filed a class action lawsuit against Keryx Biopharmaceuticals, Inc. (Keryx or the Company) and certain of its officers. The class action filed in United States District Court, Southern District of New York, and docketed under 13-CV-1307, is on behalf of a class consisting of all persons or entities who purchased or otherwise acquired securities of Keryx between June 1, 2009 and April 1, 2012, both dates inclusive of (the Class Period). This class action seeks to recover damages against the Company and certain of its officers and directors as a result of alleged violations of the federal securities laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the timing and success of Keryx's clinical trial that tested whether perifosine was effective in treating late stage colorectal cancer, and the likelihood that perifosine would be approved by the Food and Drug Administration. On April 2, 2012, the Company disclosed that the Phase 3, X-PECT clinical trial evaluating perifosine in patients with refractory advanced colorectal cancer did not meet the primary endpoint of improving overall survival versus capecitabine + placebo. Full Article
Levi & Korsinsky Notifies Investors with Losses on Their Investment in Keryx Biopharmaceuticals Inc of Class Action Lawsuit and Deadline of April 2, 2013 to Seek Lead Plaintiff Position
Levi & Korsinsky announced that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased Keryx Biopharmaceuticals Inc stock between June 1, 2009 and April 1, 2012. The complaint alleges that the Company issued materially false and misleading statements concerning the timing and success of its perifosine X-PECT Phase 3 Clinical Trial. As a result of these alleged misstatements, Keryx stock traded at artificially inflated prices. On April 2, 2012, Keryx disclosed that its Phase 3 Clinical Trial did not meet the primary endpoint of improving overall patient survival versus the drug Capecitabine and a placebo. Shares of Keryx fell from a close of $4.98 per share on March 30, 2012, to a close of $1.74 per share the following business day. Full Article
Pomerantz Law Firm Files Class Action Against Keryx Biopharmaceuticals Inc
Pomerantz Grossman Hufford Dahlstrom & Gross LLP announced that it has filed a class action lawsuit against Keryx Biopharmaceuticals Inc (Keryx or the Company) and certain of its officers. The class action filed in United States District Court, Southern District of New York, and docketed under 13-CV-1307, is on behalf of a class consisting of all persons or entities who purchased or otherwise acquired securities of Keryx between June 1, 2009 and April 1, 2012, both dates inclusive of (the Class Period). This class action seeks to recover damages against the Company and certain of its officers and directors as a result of alleged violations of the federal securities laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. Full Article
Harwood Feffer LLP Announces Investigation Of Keryx Biopharmaceuticals Inc
Harwood Feffer LLP announced that it is investigating potential claims against the board of directors of Keryx Biopharmaceuticals, Inc. (Keryx or the Company), concerning whether the board has breached its fiduciary duties to shareholders. On April 2, 2012, the Company disclosed that the Phase 3 Clinical Trial did not meet the primary endpoint of improving patient survival when compared to another drug and a placebo. On this news, the Company's shares lost more than 60% of their value over two trading days. This investigation concerns whether the Company board of directors has breached its fiduciary duties to shareholders, grossly mismanaged the Company, and/or committed abuses of control in connection with the foregoing. Full Article
Briscoe Law And Powers Taylor Investigate Possible Breaches Of Fiduciary Duty By Officers And Directors Of Keryx Biopharmaceuticals Inc
Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP announced that a federal class action lawsuit has been filed against Keryx Biopharmaceuticals Inc .The firms are investigating additional legal claims against the officers and Board of Directors of Keryx during the period of June 1, 2009 to April 1, 2012 (the Class Period). The complaint alleges that during the Class Period, the defendants misled investors about the timing and success of Keryx`s clinical trial regarding the effectiveness of perifosine for treating colorectal cancer, and the likelihood that it would be approved by the FDA. According to the complaint, after the truth about perifosine`s inability to treat this cancer was disclosed, the stock price dropped precipitously harming Keryx investors. Full Article
Levi & Korsinsky Notifies Investors With Losses On Their Investment In Keryx Biopharmaceuticals Inc. Of Class Action Lawsuit And Deadline Of April 2, 2013 To Seek Lead Plaintiff Position
Keryx Biopharmaceuticals Inc announced that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased Keryx Biopharmaceuticals, Inc. (Keryx or the Company) stock between June 1, 2009 and April 1, 2012. The complaint alleges that the Company issued materially false and misleading statements concerning the timing and success of its perifosine X-PECT Phase 3 Clinical Trial. As a result of these alleged misstatements, Keryx stock traded at artificially inflated prices. On April 2, 2012, Keryx disclosed that its Phase 3 Clinical Trial did not meet the primary endpoint of improving overall patient survival versus the drug Capecitabine and a placebo. Shares of Keryx fell from a close of $4.98 per share on March 30, 2012, to a close of $1.74 per share the following business day. Full Article
Bronstein, Gewirtz & Grossman, LLC Announces Class Action Against Keryx Biopharmaceuticals Inc
Bronstein, Gewirtz & Grossman, LLC announced that a class action suit was filed in the United States District Court for the Southern District of New York on behalf of purchasers of Keryx Biopharmaceuticals Inc(Keryx or the Company) securities between June 1, 2009 and April 1, 2012 inclusive (the Class Period). On April 2, 2012, Keryx announced the top-line data from the perifosine X-PECT Phase 3 Clinical Trial. The Company revealed that the trial for refractory advanced colorectal cancer did not meet the primary endpoint of improving overall patient survival versus capecitabine and a placebo. On this news, Keryx share price fell from $4.98 or about 65% on March 30, 2012 to $1.74 on April 2, 2012. The complaint alleges violations of federal securities laws, including issuing a series of material or false misrepresentations to the market, which had the effect of artificially inflating the market price during the Class Period. The complaint alleges that defendants mislead investors about the timing and success of Keryx's clinical trial that tested whether the drug perifosine was effective in treating late stage colorectal cancer. Full Article
Faruqi & Faruqi, LLP Files Class Action Lawsuit Against Keryx Biopharmaceuticals Inc
Faruqi & Faruqi, LLP announced that it has filed a class action lawsuit in the United States District Court for the Southern District of New York, case no. 13 Civ. 0755, on behalf of all persons who purchased Keryx Biopharmaceuticals, Inc. (Keryx or the Company) securities between June 1, 2009 and April 1, 2012 inclusive (the Class Period). Keryx and its Chief Executive Officer Ron Bentsur are alleged to have violated Section 10(b) and/or 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. Specifically, the complaint alleges that defendants mislead investors about the timing and success of Keryx's clinical trial that tested whether the drug perifosine was effective in treating late stage colorectal cancer. On April 2, 2012, Keryx announced the top-line data from the perifosine X-PECT Phase 3 Clinical Trial. The Company revealed that the trial for refractory advanced colorectal cancer did not meet the primary endpoint of improving overall patient survival versus capecitabine and a placebo. On this disappointing news, Keryx share price plummeted from $4.98 on March 30, 2012 to $1.74 on April 2, 2012 - a decline of roughly 65%. Plaintiff now seeks to recover damages on behalf of himself and all other individual and institutional investors who bought Keryx securities between June 1, 2009 and April 1, 2012, excluding defendants and their affiliates. Full Article
Keryx Biopharmaceuticals Inc Announces Pricing Of Public Offering Of Common Stock
Keryx Biopharmaceuticals Inc announced the pricing of its previously announced underwritten public offering of common stock consisting of 8,234,000 shares at $8.49 per share. In connection with this offering, Keryx granted to the underwriters a 30-day option to purchase 1,235,100 additional shares of common stock. The Company intend to use the net proceeds from the sale of the common stock to fund pre-launch/launch inventory build-up and select pre-commercial/ commercial activities related to Zerenex, and other general corporate purposes. J.P. Morgan Securities LLC is acting as sole book-running manager in the offering. The co-managers for the offering are Barclays Capital Inc., Citigroup, Oppenheimer & Co. Inc., Stifel Nicolaus Weisel, JMP Securities LLC, Roth Capital Partners, LLC, Brean Capital, LLC and Ladenburg Thalmann & Co. Inc. Burrill Securities LLC, Dawson James Securities, Inc., Maxim Group LLC, MLV & Co. LLC and Trout Capital LLC are acting as advisors to the Company. Full Article

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