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Keryx Biopharmaceuticals' (KERX) CEO Greg Madison on Q1 2016 Results - Earnings Call Transcript

Q1 2016 Earnings Conference Call

April 28, 2016 08:00 AM ET


Amy Sullivan - VP, Corporate Development

Greg Madison - CEO

Scott Holmes - CFO

John Neylan - CMO


Reni Benjamin - Raymond James

Yigal Nochomovitz - Citigroup

Whitney Ijem - JP Morgan

Christopher James - FBR & Company

Mike King - JMP Securities

Boris Peaker - Cowen & Company

Stephen Willey - Stifel Nicolaus

Hartaj Singh - BTIG

Wangzhi Li - Ladenburg


Good morning. My name is Rachel and I will be your conference operator today. At this time, I would like to welcome everyone to Keryx’s First Quarter 2016 Financial Results Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a question and answer session [Operator Instructions]. Thank you.

Amy Sullivan you may begin your conference.

Amy Sullivan

Thank you, Rachel. This is Amy Sullivan, Vice President of Corporate Development at Keryx. Good morning and welcome to the Keryx Biopharmaceuticals conference call to discuss our first quarter 2016 financial results. We are using slides to support the call today and you can access those on the Investors section of our website at

Before beginning the call, please be advised that various remarks that we make about our future expectations, plans and prospects constitute forward-looking statements for purposes of the Safe Harbor provisions under the Private Securities Litigation Reform Act of 1995. Keryx cautions that these forward-looking statements are subject to risks and uncertainties that may cause our actual results to differ materially from those indicated. We encourage you to review all of the risk factors associated with our business as filed in our 2015 10-K, 10-Qs and subsequent SEC filings.

Information regarding our use of non-GAAP financial measures is available in our first quarter 2016 financial results press release and slide 2 of this webcast. This conference call is being recorded for audio rebroadcast on Keryx’s website, where it will be available for the next 15 days. All participants on this call will be on listen-only mode.

The agenda for our call will be as follows. Greg Madison, our Chief Executive Officer will lead the call with a strategic overview of our business for 2016 and discuss Auryxia US product revenues in dialysis and progress on our growth. Scott Holmes, our Chief Financial Officer, will comment on Keryx’s first quarter 2016 financial results and financial guidance, and John Neylan, our Chief Medical Officer will highlight our recent phase 3 results for iron deficiency anemia in adults with non-dialysis dependent chronic kidney disease.

After the scripted part of the call, we’ll open the call for Q&A. And I’ll now turn the call over to Greg.

Greg Madison

Thank you, Amy and thanks everyone for joining us on the call today. At the beginning of the year we talked about 2016 as the year of execution. We’re off to a good start and with all the pieces in place, we continue to execute. We also outlined the focus areas that will drive Keryx’s long term growth and define the path for achieving our vision of becoming a leading renal company.

2015 was a year of laying the foundation. We established solid fundamentals for Auryxia, including enhancing brand awareness, establishing reimbursement and late in the year embarking to expand our field based team to 95 sales representatives. As we look ahead in 2016, first on the commercial side, we continue to focus on increasing the adoption of Auryxia in the dialysis setting.

Second, on the medical peer side, we will continue to generate data to support our differentiation to showcase real world Auryxia utilization. And on the development side, we’ll define Auryxia’s potential in the non-dialysis dependent CKD community and we’ll be doing a lot of work to prepare for potential indication expansion.