Keryx keeps buy rating from Merrill

Merrill Lynch analyst Tom McGahren kept Keryx Biopharmaceuticals, Inc. at a buy rating on news of the company's third-quarter loss per share of $0.42. The company also reported that its Sulonex phase 3 trial in diabetic nephropathy is on track. Keryx has about $140 million in cash, which should be sufficient to fund its operations through the announcement of phase 3 data for Sulonex in the treatment of diabetic nephropathy by the end of 2007, according to the analyst. Shares of the New York City-based development-stage company were down 8 cents, or 0.59%, at $13.47. (Nasdaq: KERX)

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