Keryx Biopharmaceuticals greenshoe exercised in full, lifting stock offer to $81.2 million

By Jennifer Chiou

New York, July 18 - Keryx Biopharmaceuticals, Inc. said its $10.5 million greenshoe was exercised in full, raising its common stock offering to $81.2 million.

The company sold an additional 750,000 shares at $14.05 per share to add to its original offer of 5.03 million shares that was priced July 14.

J.P. Morgan Securities Inc. was the sole bookrunning manager in this offering and Bear, Stearns & Co. Inc. was co-lead manager.

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

New York-based Keryx Biopharmaceuticals develops and commercializes pharmaceutical products for the treatment of diseases, including diabetes and cancer.

The company plans to use proceeds to fund ongoing development of its two drug candidates that are in late-stage clinical trials, including Perifosine, or KRX-0401, for the treatment of multiple forms of cancer.

Sulodexide, or KRX-101, for the treatment of diabetic nephropathy, a life-threatening kidney disease caused by diabetes, is its lead candidate.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.