Keryx PDUFA extension creates buying opportunity, Oppenheimer says


Keryx Biopharma (KERX +1.1%) had plunged more than 10% after the close following the FDA's three-month extension of the initial Prescription Drug User Fee Act goal date for its review of Zerenex, but the stock has since recouped losses and is now trading higher.

Oppenheimer sees the delay as a minor speed bump for KERX, noting that the extension wasn't imposed due to clinical data but only because the FDA needs more time to evaluate CMC-related information (Briefing.com).

H.C. Wainwright reiterates its Buy rating and $19 price target, saying the delay is not a surprise.

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