S&P 500
7,513.70
+0.82%
Dow Jones
52,452.40
+0.30%
Nasdaq 100
30,343.80
+1.82%
Russell 2000
3,029.82
+0.68%
FTSE 100
10,531.00
-0.09%
Nikkei 225
71,337.30
+0.97%
Live Nasdaq Composite: Markets Take Breather After Impressive Q2 Showing on Easing Oil Outlook

Health and Healthcare

Keryx Drug Fails Test, Shares Plunge (KERX)

Photo of Paul Ausick
By Paul Ausick Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Invalid Image
Keryx Biopharmaceuticals Inc. (NASDAQ: KERX) this morning announced that its colorectal cancer treatment did no better than placebo in a Phase 3 trial. The company said it will evaluate whether or not to continue the Phase 3 trials of the drug.

Keryx also noted that it has $31 million in cash and plans to complete a Phase 3 study on an end-stage renal disease treatment in the fourth quarter. The company also plans to file a new drug application for the drug, called Zerenex, “shortly thereafter.”

The company’s stock is getting thrashed in the pre-market, down about -55% at $2.28, only a penny higher than its current 52-week low.

Contact [email protected] for any questions or corrections.

DISCLOSURE:
INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE Brokerage and Active investing products offered through SoFi Securities LLC, member FINRA(www.finra.org)/SIPC(www.sipc.org). Advisory services are offered by SoFi Wealth LLC, an SEC-registered investment adviser. Information about SoFi Wealth’s advisory operations, services, and fees is set forth in SoFi Wealth’s current Form ADV Part 2 (Brochure), a copy of which is available upon request and at www.adviserinfo.sec.gov. Probability of Member receiving $1,000 is a probability of 0.026%; If you don’t make a selection in 30 days, you’ll no longer qualify for the promo. Customer must fund their account with a minimum of $50.00 to qualify. Other fees, such as exchange fees, may apply. Please view our fee disclosure to view a full listing of fees. Investing in alternative investments and/or strategies may not be suitable for all investors and involves unique risks, including the risk of loss. An investor should consider their individual circumstances and any investment information, such as a prospectus, prior to investing. Interval Funds are illiquid instruments, the ability to trade on your timeline may be restricted. Brokerage and Active investing products offered through SoFi Securities LLC, Member FINRA(www.finra.org) /SIPC(www.sipc.org). There are limitations with fractional shares to consider before investing. During market hours fractional share orders are transmitted immediately in the order received. There may be system delays from receipt of your order until execution and market conditions may adversely impact execution prices. Outside of market hours orders are received on a not held basis and will be aggregated for each security then executed in the morning trade window of the next business day at market open. Share will be delivered at an average price received for executing the securities through a single batched order. Fractional shares may not be transferred to another firm. Fractional shares will be sold when a transfer or closure request is initiated. Please consider that selling securities is a taxable event. Options involve risks, including substantial risk of loss and the possibility an investor may lose the entire investment Before trading options please review the Characteristics and Risks of Standardized Options  Investing in an Initial Public Offering (IPO) involves substantial risk, including the risk of loss. Further, there are a variety of risk factors to consider when investing in an IPO, including but not limited to, unproven management, significant debt, and lack of operating history. For a comprehensive discussion of these risks please refer to SoFi Securities’ IPO Risk Disclosure Statement This should not be considered a recommendation to participate in IPOs and investors should carefully read the offering prospectus to determine whether an offering is consistent with their investment objectives, risk tolerance, and financial situation. New offerings generally have high demand and there are a limited number of shares available for distribution to participants. Many customers may not be allocated shares and share allocations may be significantly smaller than the shares requested in the customer’s initial offer (Indication of Interest). For more information on the allocation process please visit IPO Allocation.
Follow 24/7 Wall St. on Google
Photo of Paul Ausick
About the Author Paul Ausick →

Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

Featured Reads

Our top personal finance-related articles today. Your wallet will thank you later.

A 66-Year-Old With $1.1 Million in Her IRA Owes the IRS More Than She Thinks
David Beren |

A 66-Year-Old With $1.1 Million in Her IRA Owes the IRS More Than She Thinks
Inside the $900,000 Greek Island Retirement Drawing Americans at 62
Drew Wood |

Inside the $900,000 Greek Island Retirement Drawing Americans at 62

Continue Reading

Douglas A. McIntyre |

Keryx Joins Biotech Zombie Ranks (KERX)

Keryx Biopharmaceuticals, Inc. (NASDAQ: KERX) may have just joined the ranks of a biotech zombie, even if it doesn’t want…

Lee Jackson |

Deutsche Bank’s 4 Top Biotech Stocks to Buy for This Year and 2015

A new report from the biotech team at Deutsche Bank fields questions from clients asking for specific stocks to buy…

Jon C. Ogg |

Oppenheimer Sees Five Biotech Stocks to Buy With Potential 50% Upside, or More

The team at Oppenheimer has a list of biotech stocks to buy that feature catalysts that could be game changers.…

Jon C. Ogg |

BioHealth Business Daily (ARQL, APPY, BPAX, BMY, CLDX, CELG, DCTH, JAV, KERX, PCYC, TLCR, VVUS)

Today’s edition of the BioHealth Business Daily is going to be very cancer-dominated due to the American Society of Clinical…

Chris Lange |

Aclaris Gets Ready For Its Initial Public Offering

ThinkstockAclaris Therapeutics, Inc. filed an S-1 form with the Securities and Exchange Commission (SEC) for its initial public offering (IPO).…

Chris Lange |

vTv Therapeutics Sets Expected Price Range for IPO

vTv Therapeutics has filed with the U.S. Securities and Exchange Commission (SEC) for its initial public offering (IPO).

BioXel Gears Up for IPO
Chris Lange |

BioXel Gears Up for IPO

Clinical-stage biopharmaceutical company BioXel Therapeutics has filed with the SEC regarding its initial public offering.

Paul Ausick |

Peregrine Pharma Collapses on News of Data Errors

Just over two weeks ago Peregrine Pharmaceuticals Inc. (NASDAQ: PPHM) reported a statistically significant improvement in the company’s bavituximab lung-cancer…

Chris Lange |

Aclaris Enters Market Well Below Expected Range in IPO

Aclaris Therapeutics debuted on the market in its initial public offering (IPO) on Wednesday morning.

Top Gaining Stocks

KLA
KLAC • Vol: 9,467,833
Axon Enterprise
AXON • Vol: 918,088
Air Products & Chemicals
APD • Vol: 1,870,176
AMD
AMD • Vol: 22,165,113
ON Semiconductor
ON • Vol: 10,178,759

Top Losing Stocks

Coterra Energy
CTRA • Vol: 73,319,495
Zimmer Biomet
ZBH • Vol: 2,516,495
Mosaic
MOS • Vol: 9,613,056
Digital Realty Trust
DLR • Vol: 6,371,322
Hormel Foods
HRL • Vol: 2,038,448