New Issue: Keryx $70.7 million secondary shares priced at $14.05, pat with Thursday's close

By Ronda Fears

Nashville, July 15 - Keryx Biopharmaceuticals Inc. raised $70.7 million in gross proceeds with a follow-on offering of 5 million shares of common stock priced at $14.05 per share, even with Thursday's closing price. JPMorgan Securities was bookrunner of the off-the-shelf secondary offering.

New York-based Keryx plans to use proceeds to fund ongoing development of its two drug candidates that are in late-stage clinical trials. Its lead candidate is Sulodexide, or KRX-101, for the treatment of diabetic nephropathy, a life-threatening kidney disease caused by diabetes. The other is Perifosine, or KRX-0401, for the treatment of multiple forms of cancer.

Issuer:	Keryx Biopharmaceuticals Inc.
Issue:	5,030,000 shares
Greenshoe:	750,000 ($10.5 million)
Gross proceeds:	$70.7 million
Price:	$14.05 per share
Bookrunners:	JPMorgan Securities
Joint lead manager:	Bear Stearns & Co.
Co-managers:	Jefferies & Co. Inc., Oppenheimer & Co. Inc., Brean Murray & Co. Inc., Punk Ziegel & Co.
Pricing date:	July 14
Closing date:	July 20
Symbol:	KERX

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