Keryx Biopharmaceuticals (KERX) saw its loss narrow to $33.78 million, or $0.32 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $37.78 million, or $0.36 a share.
Revenue during the quarter surged 64.85 percent to $9.53 million from $5.78 million in the previous year period. Gross margin for the quarter stood at negative 49.17 percent as compared to a positive 70.90 percent for the previous year period.
Operating loss for the quarter was $33.91 million, compared with an operating loss of $25.45 million in the previous year period.
"We are off to a very good start in 2017 with Auryxia in the dialysis patient population," said Greg Madison, president and chief executive officer of Keryx. "During a period when the phosphate binder market declined, Auryxia prescriptions grew to approximately 4,650 in January, an increase of 3.3 percent from the approximate 4,500 prescriptions reported in December 2016."
Debt increases substantiallyKeryx Biopharmaceuticals has witnessed an increase in total debt over the last one year. It stood at $125 million as on Dec. 31, 2016, up 37.71 percent or $34.23 million from $90.77 million on Dec. 31, 2015. Total debt was 88.38 percent of total assets as on Dec. 31, 2016, compared with 35.09 percent on Dec. 31, 2015. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
