Keryx Biopharmaceuticals, Inc. (KERX) to Raise $20 Million
Keryx Biopharmaceuticals, Inc. is conducting a private placement of stock to qualified institutional investors. The company is issuing 8 million shares of common stock at a price of $2.50, and will realize $20 million in gross proceeds. Keryx Biopharmaceuticals, Inc. is also issuing warrants to these institutional investors as an incentive to participate in the equity offering. The company will issue warrants to purchase 2.8 million shares of stock. The warrants have an exercise price of $2.65 and expire in approximately one year. Keryx Biopharmaceuticals, Inc. is currently engaged or planning Phase III clinical trials for two drug candidates, and…