Login

KERYX BIOPHARMACEUTICALS INC

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2018 10-Q, filed Nov 8, 2018. Its latest SEC filing is a CT ORDER from Jun 26, 2020.

The sections below describe the company as of the FY2017 annual report.

What Did They Do?

Sells Auryxia, an oral medicine for kidney disease, to wholesalers and pharmacies serving people with kidney disease.

How Did They Make Money?

It sells Auryxia to major wholesalers and certain pharmacies, offering discounts for invoices paid within 35 days. Under its Japan license, it receives license fees, milestone payments and royalties tied to partner sales.

FY2017 revenue

Who Were Their Customers?

Keryx sells Auryxia directly to a limited number of major wholesalers and certain pharmacies; wholesalers resell it to retail pharmacies for patient prescriptions.

Customers above 10% of revenue, FY2017
of revenue from five customers (29%, 19%, 18%, 15%, 15%)
FY2015: 98% from five customers

Did Revenues Turn Into Profits?

No. It lost $163.4M in FY2017.

Operating income, FY2017
−168% of revenue
▼ −17% (Loss) vs FY2016 (−$122.8M, −384%)
Net income, FY2017
−270% of revenue
▲ +1% (Loss) vs FY2016 (−$161.1M, −504%)

How Were They Changing?

Since the FY2017 annual report
Latest quarter: Q3 FY2018, the three months to Sep 30, 2018
Revenue
▲ +87%
vs $15M in Q3 FY2017
Net income
▼ −28% (Loss)
vs −$23.5M in Q3 FY2017
  • Dec 13, 2018 Akebia completed its merger with Keryx Keryx became a wholly owned Akebia subsidiary, and trading of Keryx shares was suspended pending delisting.
  • Oct 25, 2018 Keryx agreed to revise its Auryxia license The agreement planned joint oversight of Fexeric development and sales in Europe and an Asia-Pacific license for Panion.
  • Jun 15, 2018 Keryx's CEO resigned Gregory P. Madison also left the board.

Grew. Revenue grew 8.7x in 4 years, from $7M in FY2013 to $60.6M in FY2017, about 72% a year.

Anemia indication Auryxia expanded from an approved treatment for high phosphorus in dialysis patients, with anemia use still in development, to also treat iron-deficiency anemia in adults with CKD who are not on dialysis.

Who Did They Compete With?

Competes with Genzyme, Sanofi, Fresenius Medical Care, and Shire Pharmaceuticals Group

Create Account

Sign up for free to unlock this feature.

Already have an account? Sign in

Premium Feature

This feature requires a premium subscription to unlock unlimited historical data and advanced analysis tools.

Premium includes:

  • Unlimited historical financial data
  • Advanced analytics and insights
  • Priority support