Merrill gives Keryx buy rating

Keryx Biopharmaceuticals Inc. was given a buy rating by Merrill Lynch analyst Thomas McGahren after the company's analyst day presentation about the ongoing phase 3/4 clinical program for Sulonex in diabetic nephropathy. The company expressed a high degree of confidence that it will meet its primary endpoint. Merrill expects data for the 1,000-patient phase 3 trial in mid-2007. The phase 2 safety data for Sulonex, presented for the first time, showed a clean profile, similar to a placebo, and was consistent with prior data. Also, Keryx announced it had in-licensed Zerenex, a product candidate in phase 2 development for hyperphosphatemia. Shares of the New York City pharmaceutical company were up 91 cents, or 5.69%, at $16.91 on volume of 714,674 shares versus the three-month running average of 353,734 shares. (Nasdaq: KERX)

© 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.