Is Now The Time To Buy Keryx Biopharmaceuticals (KERX)?

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Conclusion

Currently, shares of Keryx are trading at $6.82/share, which is roughly 30% down from its record high of $9.98 achieved on Jan. 31, 2013. Keryx still has tons of potential as discussed above to achieve new highs. The company is also moving to strengthen its financial position and announced that it has commenced a $55 million underwritten public offering of shares of its common stock. The company issued a statement regarding the offering:

“We intend to use the net proceeds from the sale of our common stock to fund pre-launch/launch inventory build-up and select pre-commercial/commercial activities related to Zerenex and other general corporate purposes.”

I highly recommend buying Keryx if you are looking for a reasonable long-term bio-tech investment.

The article Is Now The Time To Buy Keryx Pharmaceuticals? originally appeared on Fool.com and is written by Shazir Mucklai.

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