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Renal drug developer Keryx Biopharmaceuticals Inc. netted $108.2mm through the follow-on public offering of 7.9mm common shares (including the overallotment) at $14.50. The company will use the money for pre-launch/launch inventory build-up and pre-commercial/commercial activities for Zerenex. The drug candidate is in Phase III for hyperphosphatemia in end-stage renal disease patients on dialysis and in Phase II for phosphorus and iron deficiency in anemic patients with Stages 3-5 chronic kidney disease.
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