JMP Securities' Jason Butler jumps to Keryx's (KERX -0.7%) defense today after the stock...

|About: Keryx Biopharmaceuticals,... (KERX)|By:, SA News Editor

JMP Securities' Jason Butler jumps to Keryx's (KERX -0.7%) defense today after the stock plummeted 22% on Friday following a report from research firm IPD Analytics that questioned whether the FDA will grant the company New Chemical Entity status for its Zerenex treatment for patients undergoing dialysis. IDP reckons that the active ingredient in Zerenex may be too similar to an existing chemical called Ferriseltz, although Butler begs to differ.