Keryx Biopharmaceuticals (NASDAQ: KERX)
Keryx Biopharmaceuticals was off to an incredibly strong start to the trading session today. However, the shares have been halted and news is pending. Today, we’ll talk about what we’ve seen from the stock thus far today, why the halt may have happened, and what we’ll be watching for from KERX ahead.
What We’re Seeing From KERX
As mentioned above, Keryx Biopharmaceuticals was off to a relatively strong start to the trading session today. In fact, the stock has stayed well in the green for most of the session thus far. Nonetheless, shares have been halted. At the moment (10:38), KERX is trading at $4.89 per share after a gain of $0.10 per share (2.09%) thus far today.
Why Have Shares Been Halted?
At this point, all we know is that shares have been halted and there is news pending, so anything said here will largely be speculation. Nonetheless, in the case of KERX, I believe it’s fair to speculate. The reality is that the company and its investors have been waiting for news from the FDA with regard to a key treatment. The PDUFA date on the treatment is November 13th. Being that we are so close to the PDUFA date, I believe that we’re going to see something from the FDA relatively soon.
What We’ll Be Watching For Ahead
At the end of the day, Keryx Biopharmaceuticals shares have been halted, and we are awaiting the news, so, of course, we’ll be following that story to see what’s happening. We’ll also be keeping a close eye on FDA developments, as we believe that this is the reason for the halt and will likely be the story that dictates movement in KERX ahead.
Update – KERX has announced US FDA approval of a second contract manufacturer for Auryxia.
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