Keryx Biopharmaceuticals, Inc. Fell 8.6% In October -- Here's Why That Doesn't Matter

Keryx Biopharmaceuticals, Inc. Fell 8.6% In October -- Here's Why That Doesn't Matter

Shares of Keryx Biopharmaceuticals (NASDAQ: KERX), a commercial-stage biopharma focused on kidney disease, fell 8.6% in October according to data from S&P Global Market Intelligence. However, there wasn't any significant news released during the month that could explain the fall. Investors can probably chalk up the move to normal biopharma volatility. 

Keryx sells a drug called Auryxia that is used to regulate phosphate levels in patients with chronic kidney disease on dialysis. While the drug won FDA approval in 2014 and has been available for sale in Japan for a few years, sales growth has been painfully slow. Keryx's total revenue in all of 2015 was only $13.6 million. While that number jumped to $31.9 million in 2016 it was still nowhere near enough for the company to reach profitability. That's disappointing since some thought that Auryxia held blockbuster potential.  

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Source: Fool.com