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Merrill Lynch maintains Keryx at buy
Keryx Biopharmaceuticals Inc. was maintained by Merrill Lynch analyst Thomas McGahren at a buy rating after final positive data from a 149-patient, phase 2 study for KRX-101 oral gelcaps for diabetic nephropathy was presented at the American Society of Nephrology annual meeting. A pivotal phase 3 and phase 4 clinical program was initiated this summer under a SPA and enrollment of the 1,000 patient, phase 3 trial is expected by the end of 2006. Shares of the New York City development stage pharmaceutical company were down 8 cents, or 0.54%, at $14.86 on volume of 610,770 shares versus the three-month running average of 325,105 shares.
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