Keryx Biopharma Down 17% Despite Drug Approval
Last week, Keryx Biopharmaceuticals (NASDAQ: KERX) fell a whopping 17% after missing analyst estimates for its key drug, Auryxia, which is used to control phosphorus levels in patients with chronic kidney disease who are on dialysis. However, that same day, the company reported that the FDA had approved Auryxia for use in a major new indication.
In this clip from Industry Focus: Healthcare, analyst Kristine Harjes and contributor Todd Campbell explain why the market's sell-off might be a big overreaction, why Keryx missed the mark on Auryxia sales this quarter, and the most important risks and concerns that investors need to be aware of before buying into this volatile biotech.
A full transcript follows the video.
Source: Fool.com
