NEW YORK, Aug. 2, 2016 /PRNewswire/ -- Wolf Popper LLP is investigating potential securities fraud claims on behalf of investors in Keryx Biopharmaceuticals, Inc. (NASDAQ: KERX), resulting from Keryx's revelation of an interruption in the supply of its Auryxia tablets. Keryx investors can contact Fei-Lu Qian at 877.370.7703 or email@example.com for more information.
On August 1, 2016, Keryx disclosed that the supply interruption is due to a production-related issue at its contract manufacturer in converting the active pharmaceutical ingredient to a finished drug product. As a result, Keryx also disclosed that "current inventories of Auryxia are not sufficient to ensure uninterrupted patient access to this medicine" and withdrew its fiscal 2016 guidance.
On this disclosure, Keryx common stock plummeted $2.64 per share or nearly 36%, to close at $4.72 per share on August 1, 2016.
Wolf Popper LLP has extensive experience representing shareholders in securities class actions. The reputation and expertise of the firm in representing shareholders has been repeatedly recognized by the courts, which have appointed the firm to major positions in securities litigation. See www.wolfpopper.com.
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SOURCE Wolf Popper LLP