Keryx expects Auryxia supply interruption

Keryx Biopharmaceuticals Inc. (NASDAQ:KERX) sank $2.64 (36%) to $4.72 on Monday after it said it expects an "imminent" interruption in the supply of Auryxia ferric citrate that will disrupt patient access to the drug. Keryx, which reported 2Q16 financial results on Monday, also withdrew its 2016 financial guidance. Keryx had anticipated $31-$34 million in Auryxia net U.S. product sales this year.

The company attributed the interruption to a "production-related issue" as its contract manufacturer converts Auryxia's API to finished drug product. Keryx expects to make Auryxia available again next quarter, when the drug supply is back to adequate levels. ...