PropThink subscribers who followed our lead in the last two years and purchased stock in Keryx Biopharmaceuticals (KERX) have watched their holdings appreciate more than 500% on renewed optimism that lead drug Zerenex (ferric citrate) will receive FDA approval for the treatment of hyperphosphatemia in patients with chronic kidney disease (CKD) on dialysis, or end stage renal disease (ESRD). Zerenex has a PDUFA decision slated for Sunday, September 7; an announcement is quite possible on Friday of this week. PropThink wrote extensively in 2012 and 2013 about Zerenex and the market for a phosphate binder that could effectively spare the use of IV iron and ESAs (erythropoietin stimulating agents). As well, the bear case on Zerenex has been well-elucidated by other investors and financial pundits.
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