Shares of Keryx Biopharmaceuticals (NASDAAQ:KERX) jumped more than 47% in Monday trading after the company announced a successful late-stage trial for its kidney disease drug.
The company said the use of Zerenex reduced phosphate levels by up to 49% in patients experiencing increased serum phosphorus levels during end-stage renal disease while undergoing dialysis, compared to patients who did not receive the drug, Reuters noted.
Additionally, Zerenex boosted the presence of other proteins in patents’ blood. Patients taking it also required less intravenously provided iron and erythropoiesis-stimulating agent (ESA).
Keryx indicated that it will submit Zerenex for approval from the U.S. Food & Drug Administration and European regulators in the second quarter.