Keryx Biopharmaceuticals, Inc. Announces Unaudited Consolidated Financial Results for the First Quarter Ended March 31, 2017; Provides Auryxia Net U.S. Product Sales Guidance for the Full Year of Fiscal 2017
Keryx Biopharmaceuticals Inc. announced unaudited consolidated financial results for the first quarter ended March 31, 2017. Total revenues for the quarter ended March 31, 2017 were $11.8 million, compared with $6.8 million during the same period in 2016. Total revenues for the first quarter of 2017 consist of $10.5 million in net U.S. Auryxia product sales, compared to $5.6 million in the first quarter of 2016. Total revenue for the first quarter of 2017 also includes $1.3 million in license revenues as compared to $1.2 million during the same period in 2016. Net loss for the quarter ended March 31, 2017 was $23.0 million, or $0.21 per share, compared to a net loss of $41.0 million, or $0.39 per share, for the comparable period in 2016. Loss before income taxes was $40.944 million against $27.717 million a year ago. Operating loss was $23.110 million compared to $23.397 million a year ago. Loss before income taxes was $22.9 million compared to $40.9 million a year ago. Basic and diluted net loss per common share were $0.21 compared to $0.39 a year ago.
The company provided financial guidance for full year 2017. For the period, net U.S. Auryxia product sales to be $56 to $60 million.