Keryx Biopharmaceuticals Inc. (NASDAQ: KERX) is surging after the company reported updated results KRX-0401 as its PI3K/Akt pathway inhibitor for cancer as a combination with Xeloda as a treatment for advanced, metastatic colon cancer. The P-CAP arm showed a statistically significant advantage for TTP and OS and for the percentage of patients achieving Stable Disease lasting 12 or more weeks or better. The P-CAP arm also showed over a 60% improvement in OS to more than double the median TTP and almost a doubling of the percentage of patients achieving SD or better.
Shares are up over 15% at $3.17 and we saw a trade as high as $3.27 earlier. The volume is 450,000 shares as of 8:44 AM EST. The 52-week trading range is $0.09 to $3.45 and the average volume is about 1.6 million shares.
JON C. OGG