Revenue Of Keryx Show Raise In Q3

Published: 10-Nov-2009

Reports nine month revenue of $25.2m

Keryx has reported a revenue of $3.5m for the third quarter of 2009, compared to $0.4m for the prior year. For the nine month ended period the company earned a revenue of $25.2m, compared to $1m for 2008.

The net income for the quarter was $0.6m, or $0.01 per diluted share, compared to a net loss of $6.8m, or $0.15 per diluted share, for the third quarter in 2008. For the nine month ended period the company incurred a net income of $15.1m, or $0.31 per diluted share, compared to a net loss of $49.1m, or $1.11 per diluted share, for the comparable period in 2008.

Ron Bentsur, chief executive officer of Keryx, said: "Keryx has made substantial progress in the third quarter. Following our announcements of an SPA for the Phase 3 trial of perifosine in multiple myeloma, and exciting long-term safety and efficacy data for Zerenex, we solidified our balance sheet with a $20m registered direct offering. We believe we now have sufficient capital to complete the Phase 3 programs for Perifosine and Zerenex, both of which are nearing commencement."

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