Keryx Biopharmaceuticals Inc. (NASDAQ: KERX) this morning announced that its colorectal cancer treatment did no better than placebo in a Phase 3 trial. The company said it will evaluate whether or not to continue the Phase 3 trials of the drug.
Keryx also noted that it has $31 million in cash and plans to complete a Phase 3 study on an end-stage renal disease treatment in the fourth quarter. The company also plans to file a new drug application for the drug, called Zerenex, “shortly thereafter.”
The company’s stock is getting thrashed in the pre-market, down about -55% at $2.28, only a penny higher than its current 52-week low.
“The Next NVIDIA” Could Change Your Life
NVIDIA has returned 250-fold in the past 10 years as artificial intelligence took off.
But if you missed out on NVIDIA’s historic run, your chance to see life-changing profits from AI isn’t over.
The 24/7 Wall Street Analyst who first called NVIDIA’s AI-fueled rise in 2009 just published a brand-new research report named “The Next NVIDIA.”
The report outlines key breakthroughs in AI and the stocks ready to dominate the next wave of growth. The report is absolutely free. Simply enter your email below
By providing your email address, you agree to receive communications from us regarding website updates and other offerings that may be of interest to you.
You have the option to opt-out of these emails at any moment. For more information, please review our Disclaimer and Terms of Use.