Keryx Biopharmaceuticals plans 5 million share follow-on offering

By Ronda Fears

Nashville, July 11 - Keryx Biopharmaceuticals Inc. announced Monday plans to sell 5 million shares off its shelf registration via bookrunner JPMorgan Securities Inc.

Bear Stearns & Co. Inc. is joint lead manager.

Jefferies & Co. Inc., Oppenheimer & Co. Inc., Brean Murray & Co. Inc. and Punk Ziegel & Co. are co-managers.

The original shelf registration was filed with the Securities and Exchange Commission on Oct. 13, 2004.

There is a greenshoe of 780,000 shares available.

Keryx is focused on the development and commercialization of pharmaceutical products for the treatment of diabetes and cancer. It has two product candidates in late-stage clinical development. Its lead candidate is Sulodexide, or KRX-101, for the treatment of diabetic nephropathy, a life-threatening kidney disease caused by diabetes. The other is Perifosine, or KRX-0401, for the treatment of multiple forms of cancer.

The company said in the follow-on SEC filing that it plans to use proceeds to advance its pharmaceutical products and to license, acquire and develop new drug candidates.

Keryx shares closed Friday at $14.06.

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