Roth Capital Comments on Keryx (KERX) Following KOL Panel; Affirms 'Buy' Rating

Roth Capital affirms Keryx Biopharma (Nasdaq: KERX) at Buy with a price target of $32 following a recent KOL panel with four prominent nephrologists regarding the company's Ferric Citrate for treating dialysis-dependent CKD patients.

Analyst Joseph Pantginis elaborates, Following the KOL panel, we reaffirm our belief that Auryxia has significant potential in treating dialysis-dependent CKD patients. We believe this conclusion is supported from both clinical and economic points of view. An important update concerned the long-term safety extension study described by Dr. Umanath. This study showed that, similar to the Phase III PERFECTEDCGS-15 study, Auryxia exhibited a very good safety profile comparable to the active control.

Moreover, with regards to GI and cardiac SAE, Auryxia treated patients had a lower rate of SAE in the Phase III study and this was repeated in the long term safety extension study. Another important issue that came up was Auryxia's iron sparing characteristic (as well as ESA). This is a two fold benefit, with the first being economic, as it minimizes the additional cost of separate IV iron. Additionally, it reduces the higher infection rates seen with IV iron administration. IV iron causes impairment of innate immune cells (neutrophils and macrophages), leading to higher rates of infections. With regards to concerns that have been brought up by the label warning of potential iron overload, the KOLs stated that in their 15 - 20 years of experience, they never come across a patient with an iron overload. Additionally, they stated that the potential iron overload warning on Auryxia's label is a non-issue for nephrologists.

For an analyst ratings summary and ratings history on Keryx Biopharmaceuticals click here. For more ratings news on Keryx Biopharmaceuticals click here.

Keryx Biopharmaceuticals closed at $15.18 yesterday.

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