INVVY - Your Daily Pharma Scoop: Keryx Reata And AstraZeneca Report Positive Results
Analysis Focus: KERX
We have followed Keryx (KERX) for a while now, and we note the following developments in the last few months - sNDA approval for Auryxia in IDA patients in NDD-CKD, (iron deficiency anemia in non dialysis dependent patients with chronic kidney disease), withdrawal of guidance, EPS miss, poor sales figures vis-a-vis expectations, and finally the CEO departure. We also note that this $600mn market cap company has $141mn in cash, almost $94mn burn rate, and no other drug in its pipeline. However, Auryxia’s stated potential is huge; a $2,2bn market potential in