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Oh, what a beauty of a post this morning from “hooligan” poster DC over at KERX’s Yahoo conversation board, wonder if he wrote it all himself? Check-out “hooligan” DC’s post, ladies and gentleman - might it be the post that parts the clouds to reveal the true skies?
Baupost cost basis at $8.08 at 12/31/2017 as have been posting. Have also been posting that Baupost at $8.08 at this juncture makes no sense, that with KERX’s pps at +/- $4.05 Baupost in the RED some $225 million, that Baupost would need to lower cost basis, that it’s quite strange that Baupost hasn’t added a single share since conv. notes agreement back in Oct. 2015, that pps “hostage” since IDA approval allows for power move to control company at cheap, etc. etc.
So poster DC suggesting that Keryx should now sign a 2nd conv. notes agreement with Baupost, AT LOW AGAIN, say for the $100 million shelf, allowing Baupost to lower cost basis, take deeper control of company along with 3rd parties, dilute even deeper into some projected 190 million outstanding shares (fully converted), etc. etc.
Now wouldn’t the above scenario just take the cake, sorta explain so much in terms of why the sequence of events the past 3/12 years (kinda everything falling into place), kinda make everything some incredibly damn obvious?
And the “low brow hedge funds doing everything possible to damage the conpany” and “bunch of NY shekel skimmers” that “hooligan” DC talks about in his posts, who are they? Take a guess? LOL
Particularly interesting are the rapidly increasing thumbs-up to “hoolligan” DC’s post. What a way for the “hooligans” to re-surface after 3 days MIA, as you know, seemingly, they only post Mon.-Fri. except when a weekday falls into a holiday. LOL
Hey, poster DC, you’re not that good, in fact, you’re terrible!
ALL the above, in my opinion, as always..
Yes Keryx executive management...
IDA in CKD is different, it’s complicated, and you have a blockbuster drug ($1 billion Renvela on steroids) with pristine clinical results for years. You also have 2 FDA approvals, the last one granted 5 months ago which exponentially increases market potential. You also have broad label EU approval since 21/2 years ago with New Active Substance designation which provides 10 years of data and marketing exclusivity in Europe.You also have 27,300 sq. ft. multi-million renovated offices with an organization structure a la Big Pharma footprint of 210 head count. You also have hefty compensation and benefit package with free stock awards/RSUs. You also just spent $100 million in SG&A in 2017.
So why is KERX’s stock price at $4 ??? ??
https://t.co/IhhMyMDeLI
$4 ??? ??
https://mobile.twitter.com/keryxbio/status/978273474593554434
Fred so you think KERX merge coming, KERX shares w/ AMAG 4x/1x?
Folks, yesterday, in my reply to Michele, wrote and asked Michele..
“IMO, the stock price has been and continues to be “hostage” to ongoing hidden and unscrupulous machinations. Still trying to understand why exactly is KERX’s pps at $4. Do you have any clear understanding, because I sure don’t.”
Poster Anonymous interjected with the following reply..
“@fred because sales have been slow. Investors see potential dilution on the horizon.”
my reply to Michele went on to read...
“will get to poster Anonymous and address his reply, actually, will “knock its head off”. It’s quite the CROC but, not only that, potentially quite telling.”... to which poster Anonymoys replied..
“Cant wait til you "knock its head off". Because thats the story, period.”
____________________________
“that’s the story, period”? Says who? Sounds like that’s Anonymous’ story and he’s sticking to it. Well, he better get stronger glue, because it doesn’t stick.
Folks, Anonymous’ 2 replies can be broken down into CROC and very telling. “Sales have been slow”being the CROC part, and “Investors see potential dilution in the horizon” being the very telling part. Let’s first address the CROC part.
Like have been saying ad nauseum, the “hooligans” attempt to push scripts #’s down our throats, day in and day out, and there’s a reason for that. The reason being, the underlying “screenplay”, scripts #’s, is at the center of creating an “alibi” for what could be a “bogus” 31/2 years. The objective to promote and develop such an “alibi” is directed at reconciling and tying-in to poor mgt. and stock performance while in reality, so goes the hypothetical, it’s all by design and part of “a plan”. If you come to the understanding, so goes the hypothetical, that the Keryx story and end game, “a plan”, was designed years ago and that Auryxia/Fexeric was always meant to replace Renvela/Renagel, than you understand that true commercialization development of Auryxia could not take place until Renvela generics hit the market. Then and only then, NOW, with Renvela generics in U.S. market, is when Auryxia is set to be truly commercialized, truly launched, in a phase-out of Renvela and phase-in of Auryxia. In other words, true commercilization of Auryxia during the past 31/2 years could not take place as it would aggressively compete with Renvela before its time, therefore defeating and dismantling the entire purpose and design of a “a plan”. This is why, so goes the hypothetical - why the sales & marketing apparatus has been haunted with irregularities and disfunctionality from the outset i.e. slow launch, slow sales team development, and toxic sales mgt. culture driven by the ex-Tony Chambers resulting in sales team discontent, low morale, low motivation and, most importantly, high turnover, all part of an underlying dysfunctional tactic employed as an integral part of sales disruption, a “plan”.
So goes the hypothetical, the past 31/2 years have not truly been about sales & marketing development, but rather about groundwork development, i.e. getting mgt. team in place (seemingly by design, ex-Sanofi, ex-AMAG etc.), payor coverage, office expansion/renovations, increased head-count, EU approval and Fexeric groundwork development in countries of Western/Eastern Europe, manuf. agreements, etc. etc. AND of course, a KEY variable, IDA approval. Sure, you’ve had a sales effort and getting the word out but, so goes the hypothetical, very controlled with a calculated pace of growth leading up till today, “a plan”. You see, folks, so goes the hypothetical, slow scripts growth/sales and mgt. incompetence has been at the center of providing an “alibi” for just about the entire sequence of machinations during the past 31/2 years including pps movement/debacle to where it sits today, short interest movement vis a vis short trade operation generating massive profits for the “powers”, manuf. interruption, guidance withdrawals, etc. etc. How else can you explain an ongoing horrific performance for years, as clearly evidenced by where the pps/market cap of the company sits today, while hefty compensation and bonuses/awards and mgt. team remains in place, office expansion to 27,300 sq. feet with multi-million renovations, increasing head-count from +/- 50 in 2014 to approx. 226 a la Big Pharma wide organization structure as per zoominfo. How can you possibly reconcile IDA approval coinciding with pps debacle to the 4’s and remaining in the $4’s for 5 months? Ahh, scripts #’s and mgt. incompetence goes the “alibi” of a potential organized “collusive “operation” 31/2 years and running, while the short trade has succeeded impeccably and the long trade has failed impeccably.
Sooo, now poster Anonymous attempts to explain Kerx’s pps at $4 with “sales have been slow” haha. Whatever happened to strong q over q scripts growth and the linear graph “to the moon Alice” that is employed so much. Ohh, I see, 180 degree turn, NOW, pps at $4 due to “sales have been slow”. Nevermind that with scripts #’s much lower, the stock price was at $8 going back a while. LOL
Thats was the CROC part of Anonymous’ reply, let’s now address the very telling part of Anonymous’ reply - “Investors see potential dilution in the horizon”.
All IMO............. continued
Folks, “hooligan” Yoshka’s report from a much touted 2nd round of IR talks is a major hit & miss, and a major “rattlesnake”. Here are the 5 points...
1-Can Auryxia be marketed for IDA outside of CKD?...... Hahaha, irrelevant question. No sheet, FDA approval is to treat IDA in adults with CKD, not on dialysis. The original approval, is for control of serum phosphorus levels in patients with CKD who require dialysis. You see, folks, Auryxia offers continuity of care - you start the patient with Auryxia in early stages of renal disease (below normal to mild loss of kidney function) who do not require dialysis but with IDA presence, and continue Auryxia treatment thru every stage of CKD which includes IDA progression, hemoglobin progressively falling and phosphorous levels progressively rising, all the way to and thru dialysis treatment. As far Auryxia being marketed for IDA outside of CKD, dumb irrelevant question, not in the cards, why ask? However, just because it cannot be marketed/sold for IDA outside of CKD, doesn’t necessarily mean it won’t be prescribed for IDA outside of CKD - Keryx or any other pharma/bio pharma can’t control how every physician prescribes a drug. You see folks, IMO, the reason for “hooligan” Yoshka/gwells including the “question” AND placing it as # 1 in his report/post, is an attempt at giving a distorted and deceitful impression that Auryxia for IDA is not a “big thing” and sort of inconspicuously relating it to Auryxia sales being slow. Yosha/gwells is a very poor and ineffective “hooligan/charlatan”.
2-Why wasn't Keryx more prepared to launch Auryxia for hyperphosphetemia (apparently they only had 3 months to prepare)......Folks, this topic was set-up to be continued in “hooligan” Yoshka’s/gwells 1st report/post as follows, “They did not prepare properly for the launch” (take a look at the 1st report/post, it’s there.) Now, in the 2nd report/post comes the follow-up, let me explain. But first, let’s ask the following question which leads to the crux of the matter: At this juncture, why even address the topic of Auryxia launch for hyperphosphatemia, who cares, that was 31/2 years ago, what, they couldn’t react and rectify from poor preparation in 31/2 years? Ahaa, but here’s the catch from the follow-up in the 2nd report/post: “Her experience is that typically companies prepare for 18 months to launch a product. As I understood her, they were preparing almost 2 years for IDA launch”. So, what does 18 months and 2 years equate to? Yes, you figured it out, it equates to 31/2 years. Hahaha, IMO, trying to reconcile 31/2 years of poor performance/nothingburger sales with a “hooligan” Yoshka/gwells report/post on a public message board. You see, folks, potentially, so goes Fred’s hypothetical, developing groundwork (i.e. commercial infrastructure) and slow sales were part of “a plan” while Renvela finished it last 3 years of nearly billion sales/year before generics to hit the market.
3- If Auryxia is not going to be marketed in Europe, then why the European manufacturing agreements? Answer: Having European agreements is part of the EU approval process. The sites are also able to manufacture for the US. While Keryx will not go it alone in Europe, they would entertain partnering if it could be shown to be profitable......Yada yada yada, Auryxia WILL be launched in the EU market with Big Pharma, period, IMO, groundwork has been in development, and Big Pharma has the infrastructure in place. But, funny thing, 180 degree IR shift from 1st report/post, “There will be no effort to market Auryxia in Europe.” haha (Btw, the EU topic, as was the launch of Auryxia for hyperphosphatemia, topic # 2, just follow-ups of same topics from 1st round of talks. I thoughts 2nd round of talks was to include new topics, current shareholder issues and concerns such as zoominfo’s 226 job profiles a la Big Pharma organizational structure sitting in 27,300 sq. foot offices with multi-million renovations, while the company has delivered nothing but CRAPOLA and the stock price sits at $4. Priceless!
4-Given the poor price performance of the stock, why is Madison receiving what many of us perceive to be unwarranted bonuses?
Answer: Madison's compensation is not tied to the share price but rather to measurable company goals. Attaining the goals should typically be reflected in the stock performance but we agreed there are many factors that impact share price. Madison's goals are apparently laid out in last years proxy statement. (I'm guessing they are open to review by shareholders.)......Not even going to comment, speaks for itself, major “gangta” practices, imo. But again, set-up and follow-up just from 1st report/post as follows, “Madison has received bonuses tied to performance goals and has not for goals not achieved. Bonuses are not tied to pps” yeah yeah $&%#$&
and finally, from “hooligan” Yoshka’s/gwells high level bilateral 2nd round of talks with IR, comes Chanel #5..
5-Is Keryx open to a merger or acquisition? Answer: It would be considered if it made good business sense.....Well, we could have skipped all the bs mumbo jumbo and gone straight to Chanel #5. haha. But gotta love IR, “if it made good business sense”. What??? These exec bad “clowns” are sitting in a 27,300 sq. foot office with multi-million renovations, dancing to the beat of hefty compensation “Scam artists. CEO, CFO all the way the F down to the fat janitor!” (credit to poster Gilmore Happy), delivering nothing but CRAPOLA, spending like drunken salilors, in the RED for years and up the ying yang, stockholders value at $4/shares after 31/2 years and 2 FDA aporovals, and IR has the temerity of saying, “if it made good business sense”??? LOLOL
Poor “hooligan” Yoshka/gwells, his rubber raft is full of holes, and so is his head.
All, in my opinion, as always..
Oh ohhh, my last post on Yahoo Keryx conversation board was just removed, it read as follows..
“Folks, discovered a very interesting development. All the Keryx Exec/VP’s/Directors/Managers/Other job positions/titles in zoominfo.com which I posted a couple weeks ago and posted today a lil while ago, have been REMOVED from zoominfo.com. When googling Keryx zoominfo or if you click on each and every zoominfo link provided for each job position/title included in my post, the result reads..
“We're sorry. The page you requested is no longer exists.”
Now, who could have removed all the Keryx info. from zoominfo.com after it was posted a couple of weeks ago? My best guess, the company.
Riddle me that..
ALL IMO”
(Why was my post removed from Yahoo conversation board? hmmm)
Again, below is list of VP’s, Senior Directors, Directors, and other, and their job titles/job specifics built around a one-drug biotech company. Nevermind 27,300 square feet office expansion, multi-million renovations, Master manuf. agreements, Fexeric development efforts in Western/Eastern Europe as per internet links, new senior exec hires, etc. In other words, groundwork, infrastructure, human resource development which, imo, has been ongoing behind the scenes/shareholders in the dark. What to make of all this? Kinda reveals blockbuster projections for Auryxia/Fexeric which, imo, are being kept hush hush. Again, Renvela was selling nearly $1 billion WITHOUT IDA component b4 generics hit.
Darla Champigny - Corporate Counsel
https://www.zoominfo.com/p/Darla-Champigny/-1041896241
Kelly Pitt - Associate Counsel
https://www.zoominfo.com/p/Kelly-Pitt/-1808466432
Lisa Shrayer - VP Legal
https://www.zoominfo.com/p/Lisa-Shrayer/-1068290929
Lisa Lorem - Regulatory Affairs
https://www.zoominfo.com/p/Lisa-Loram/-1979235961
Edward Cullen - VP PreClinical and Clinical Development
https://www.zoominfo.com/p/Edward-Cullen/1578321972
Barry Cohen - VP Business Development
https://www.zoominfo.com/p/Barry-Cohen/-1742593195
Daniel Olmstead - VP Payer Access
https://www.zoominfo.com/p/Daniel-Olmstead/1178231277
Enrique Poradosu - VP Scientific & Business Strategy
https://www.zoominfo.com/p/Enrique-Poradosu/1173592361
Maureen Curran - VP Drug Safety and Pharmacoviligance
https://www.zoominfo.com/p/Maureen-Curran/1964509500
Kenneth Hoberman - VP Business Development
https://www.zoominfo.com/p/Kenneth-Hoberman/1220814535
Robert Nisch - VP CMC Operations
https://www.zoominfo.com/p/Robert-Nisch/-2108162153
Mark Hazard - VP Head of Quality
https://www.zoominfo.com/p/Mark-Hazard/-1193816148
Lou DeBergalis - VP Quality Operations
https://www.zoominfo.com/p/Lou-Debergalis/1258713457
Michael Crispin - Executive Director, Information Technology
https://www.zoominfo.com/p/Michael-Crispin/542287183
Matthew Gray - Executive Director, Financial Planning and Analysis
https://www.zoominfo.com/p/Matthew-Gray/-2038336076
Robert Bob - Senior Director, CMC Manufacturing
https://www.zoominfo.com/p/Robert-Bob/-878556517
John Ulyshen - Senior Director of Marketing
https://www.zoominfo.com/p/John-Ulyshen/-1679640828
Sarah Mudholkar - Senior Brand Manager
https://www.zoominfo.com/p/Sarah-Mudholkar/1473295895
W. Findlay - Associate Director, CMC Manufacturing
https://www.zoominfo.com/p/W-Findlay/1936839894
Timothy Fox - Senior Director, Enterprise Applications
https://www.zoominfo.com/p/Timothy-Fox/1475339085
Adam Schayowitz - Senior Director Medical Affairs
https://www.zoominfo.com/p/Adam-Schayowitz/361590494
Alan Herrera - Director HEOR
https://www.zoominfo.com/p/Pharmd-Alan-herrera/-2048361666
Richard Twombly - Senior Director, Commercial Training Development
https://www.zoominfo.com/p/Richard-Twombly/1512918490
Matt Manlove - Senior Director of Infrastructure and Facilities
https://www.zoominfo.com/p/Matt-Manlove/1707185381
Amilcar Ribeiro - Senior Director, Clinical Operations
https://www.zoominfo.com/p/Amilcar-Ribeiro/-980901251
Karen Joyce - Senior Director, Global Regulatory Affairs
https://www.zoominfo.com/p/Karen-Joyce/-2042313831
Katrin Uhlig - Senior Medical Diector
https://www.zoominfo.com/p/Katrin-Uhlig/212298229
Kevin Haynes - Senior Director, Manufacturing and Materials Mgt.
https://www.zoominfo.com/p/Kevin-Haynes/1409110498
Robert Bruno - Senior Director, Supply Chain
https://www.zoominfo.com/p/Robert-Bruno/-1193816149
Bruce Lotz - Director of Manufacturing Operations
https://www.zoominfo.com/p/Bruce-Lotz/-2132717633
Emarjola Boka - Medical Director, Global Drug Safety and Risk Mgt.
https://www.zoominfo.com/p/Emarjola-Bako/-1777970846
Megan Luce - Director, Government Pricing
https://www.zoominfo.com/p/Megan-Luce/-1708677264
Rama Shmeis - Director, CMC Formulation Development and Technology Transfer
https://www.zoominfo.com/p/Rama-Shmeis/-1831790189
Doris Chen - Director, Quality Operations
https://www.zoominfo.com/p/Doris-Chen/1575040860
Lisa Fiering - Senior Director, Human Resources
https://www.zoominfo.com/p/Lisa-Fiering/1787569875
Nancy Sayre - National Account Director
https://www.zoominfo.com/p/Nancy-Sayre/1783936346
Julie Schroeder - Director, Human Resources
https://www.zoominfo.com/p/Julie-Schroeder/2080787641
Sharon Funk - Director, Market Analytics and Insights
https://www.zoominfo.com/p/Sharon-Funk/1401196925
David Sutherland - Director of Accounting, Controller
https://www.zoominfo.com/p/David-Sutherland/-2043147425
Robbie Tantoco - Director, Financial and Analysis
https://www.zoominfo.com/p/Robbie-Tantocoassociate/-1054578252
Bryce Foote - Medical Director, Medical Affairs
https://www.zoominfo.com/p/Bryce-Foote/2027575503
Robin Lewinter - Director, Medical Communications
https://www.zoominfo.com/p/Robin-Lewinter/-1363597264
Noah Mendelson - Director, Business Analytics and Forecasting
https://www.zoominfo.com/p/Noah-Mendelson/-1742457440
Ronald Weiss - Director, Commercial Analytics
https://www.zoominfo.com/p/Ronald-Weiss/1483324829
Daniel Miller - Director, Quality Operations
https://www.zoominfo.com/p/Daniel-Miller/-1951042085
James Brauch - Principal Analyst, Business Development and Financial Modeling
https://www.zoominfo.com/p/James-Brauch/-1070896933
Emily Beaulieu - Corporate Affairs, Communications and Digitel Media
https://www.zoominfo.com/p/Emily-Beaulieu/-913625026
Kelly Rebori - Associate Director, Payer Contracting and Operations
https://www.zoominfo.com/p/Kelly-Rebori/-1659351453
Duncan Dewar - Information Technology Endpoint Architect
https://www.zoominfo.com/p/Duncan-Dewar/-1979255431
And there’s more from where this came from, including Manager level job titles..
@AnfuhrerMitwut There is one weak spot to hypothetical scenario and it has to do with Baupost being at odds with Keryx mgt./BOD and suitor Big Pharma/3rd parties. The more one thinks about it, the more one cannot get arms around Baupost coming out “violated” after 4+ years. Seth Klarman is BIG player, smart as they come (so is Abrams) - “violated”, set-up, hoodwinked?? Hard to believe.
As mentioned in prior posts, with KERX pps in low $4’s, and Baupost cost basis at $8.08, Baupost is in the RED some +/- $225 million. At this juncture, the only way this holds water is if Baupost has been playing short for 4+ years and has generated massive profits from shorting against the box/options to offset/recoup nearly $500 million investment with short profits, and is riding free shares or close to it. But, Baupost has had a seat on the BOD since Butler became Director in Dec. 2015 and now, as per Keryx filing, supposedly, Enyedy. Wouldn’t that make Baupost an insider, privy to undisclosed public info. and unable to “insider short” since Dec. 2015? Baupost could however, have been borrowing its shares (incl. shares represented by conv. notes), say to Abrams Capital or other, and deriving interest income. But interest income would not offset nearly $500 million investment, unless, a potential scenario of borrowing and short profits via Abrams Capital or other reverts back to Baupost somehow. Sooo, possible scenarios, VERY ROUGHLY..
Scenario 1-Baupost NOT at odds with Keryx mgt./BOD and Big Pharma suitor/3rd parties, all in concert, somehow riding free shares, 59.2 million fully converted plus potential additional purchased at low since Jan. 2018 via private placement from remaining $73.2 million supplement, increasing holdings to say 75 million shares, and say, selling at $10/share would generate Baupost some $750 million in profits. (Since not at odds, all in concert, no “hostility” for control, no need for $100 million shelf). If remaining $73.2 million supplement offered and sold, we’re talking some 170 million outstanding incl. fully converted notes which, at $10, would equate to $1.7 billion for suitor less cheap shares purchased via 3rd parties.
Scenario 2-Baupost NOT at odds with Keryx mgt./BOD and Big Pharma suitor/3rd parties, all in concert, NOT riding free shares, 59.2 million fully converted plus potential additional purchased at low since Jan. 2018 via private placement from remaining $73.2 million supplement, increasing holdings to say 75 million shares and bringing cost basis to say $7. In this scenario, given not riding free shares, Baupost would need to sell at $17 to generate some $750 million in profits (Again, since not at odds, all in concert, no “hostility” for control, no need for $100 million shelf). If remaining $73.2 million supplement offered and sold, we’re talking some 170 million outstanding which, at $17, would equate to $2.9 billion for suitor less cheap shares purchased via 3rd parties. Don’t see $2.9 billion.
Scenario 3- Baupost AT odds with Keryx mgt./BOD and Big Pharma suitor/3rd parties, NOT riding free shares, 59.2 million fully converted plus potential additional purchased at low since Jan. 2018 via open market increasing holdings to say 65 million shares and bringing cost basis down barely. But, additional purchased not about bringing cost basis down, but rather, to fend off “hostility” (Abrams in the mix). In this scenario, remaining $73.2 million supplement AND $100 million shelf would be executed in favor of “hostile powers” behind holding pps “hostage” and attempting to supersede Baupost for control of company at cheap. In this scenario, Baupost being “violated”.
As stated, VERY ROUGHLY, but take your pick or if you have another scenario, welcomed.
Btw, remember, at 12/31/2017, retail still holding some 35% outstanding or 40+ million shares as per Nasdaq Institutional Ownership reporting. “Powers” looking to shake retail tree - AND smaller institutional/funds holdings. in this sense, keeping pps “hostage” sub-$5 going on 5 months, plays a role.
All the above, in my opinion..
Link at bottom is for article titled, “Net Budgetary Impact of Ferric Citrate as a First-Line Phosphate Binder for the Treatment of Hyperphosphatemia “, Steven M. Brunelli, Scott P. Sibbel, and Glenn M. Chertow as co-authors. At end of article it reads as follows..
Acknowledgements
The authors acknowledge Abigail Hunt, PhD, of DaVita Clinical Research for medical writing and editorial support.
Funding
Funding for this study and for medical writing support was provided by Keryx Biopharmaceuticals, Inc.
Conflict of interest
Steven Brunelli is employed by DaVita Clinical Research. Scott Sibbel is employed by DaVita Clinical Research. David Van Wyck is employed by and owns stock in DaVita Inc. Amit Sharma was an employee of Keryx Biopharmaceuticals, Inc. at the time the study was conducted. Andrew Hsieh was an employee of Keryx Biopharmaceuticals, Inc. at the time the study was conducted. Glenn Chertow has served as a consultant to Keryx Biopharmaceuticals, Inc. for work related to the design and oversight of clinical trials, and for service on an advisory board. This study and subsequent manuscript development were funded by Keryx Biopharmaceuticals, Inc. Medical writing support for manuscript development was provided by Abigail E. Hunt, PhD, an employee of DaVita Clinical Research.
https://t.co/GRNxSidT98
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Seems close ties have persisted between Keryx and DaVita throughout the years. Makes sense, DaVita potentially a necessary component, integral part, of “building a leading renal company”, to compete effectively with Vifor which is hooked-up with Fresenius - make no mistake, Vifor Fresenius is THE formidable competitor of “building a leading renal company”.
AMAG’s Feraheme, which just received IDA expanded indication, would be positioned to compete directly with Vifor’s Injectafer. In U.S., Injectafer sold US$311 million in 2017 versus US$227 million in 2016 (37% increase). But get this, in 2017, Vifor designated Injectafer as one the most important growth drivers in U.S. (and Europe) deciding to further increase commercial resources toward building Injectafer into a blockbuster. In Europe, Ferinject (Injectafer in Europe), sold US$363 million in 2017 vs US$298 million in 2016 (22% increase). Rockwell Medical’s (RMTI) Triferic, would be positioned to play a role as only FDA approved drug to replace iron and maintain hemoglobin during every dialysis session.
Folks, if you’ve been paying attention to sequence of events, along with price action, short interest, etc., in other words, developments on all 3 fronts, power play involves taking control of KERX, AMAG, and RMTI at CHEAP (so goes hypothetical), and “building a leading renal company” needs to come together soon. Vifor Fresenius is moving forward aggressively, time is of essence. Vifor’s phosphate binder, Velphoro, increased sales by 48.6% in 2017 to US$85 million. The global rollout of Velphoro has continued with launches during 2017. As of
Dec. 31, Velphoro is registered in 39 countries and available in 24. (i.e. approved in Mexico in Oct. 2017 and Canada in Jan. 2018). .......AND, as you know, in the U.S. (and Europe), Renvela generics now in full throttle mode.
Now, unfortunately, my good german friend AnfuhrerMitwut, seems to have been shaken-up a bit by “French” RSUs and, as a result, has allowed the “hooligans” to momentarily blur his thinking and get the best of him. LOL (j/k Anfuhrer).
In all seriousness, so goes hypothetical, KERX common investors are “hostage” to an ongoing and hostile power move which, after years of a major cluster &$#% having to withstand everything thrown at them including the kitchen sink, in the “grand finale”, common investors are potentially facing getting one last major reaming (unimaginable) with the value of their shares being deeply short-changed.
ALL the above, in my opinion.
Here’s another market study, yet they can’t put together a lil ole guidance ??
https://t.co/tXIT47KMTJ
If they have a person on the board, I believe they cannot short a stock, as that would be considered insider trading.
As per poster Yoshka’s/gwells bilateral high level talks with Keryx IR, communicated thru a post which garnered 32 thumbs-up...
“5) I mentioned that a lot of retail investors I know feel frustrated and that communication with us was poor. I mentioned that many of us feel Madison is a very poor presenter with canned, repetitive presentations with no news on pertinent issues. The stock price was horrible and in decline since the new application was approved and for many who trusted the company, it is painful. She mentioned that everyone employed there is a stockholder and also very aware of the pps. Their receptionist is older and was hoping to retire with gains from keryx. I told Amy I hope Madison has to face her everyday when he comes to work. He does.”
Folks, again, the above referenced exchange with IR seems like an excerpt from a comic book, particularly the reply from IR. “Their receptionist is older and was hoping to retire with gains from keryx.” LOL, ludicrous!!!, IMO.
___________________________
“6) I asked her to tell me why someone should invest in Keryx. She basically replied because they have a great product, great people and are committed to the mission but it will take time. I reminded her that just having a good product doesn't guarantee success. Good sales and marketing, manufacturing and distribution does. Reiterated that many of us dont feel Madison is doing a good job and were hoping he'd be replaced.”
AND...
“7) Asked her if they were projecting a break even date. She said they were but she wasn't at liberty to say when.”
Both, 6) and 7), of no relevance, of no consequence, says nothing, means nothing, imo, a total CROC.
__________________________
Look, folks, IMO, the entire episode of Yoshka’s/gwell’s exchange with IR is a nothing burger, a CROC. Not a single question was asked of any real significance as it pertains to the real goings on i.e. After 3+ years since launch and admittedly 5% penetration, and pps in $4’s with IDA aporoval (imagine that), and so much more in terms of horrific performance - why expanded offices of 27K square feet with multi-million renovations?, why new exec hires?, why 200+ headcount with 50+ managerial organization structure a la BP footprint?, why the seemingly deep correlation between Keryx and AMAG (i.e. just one example, Helen Milton worked on Auryxia’s regulatory affairs for FDA IDA approval, and then switched over to AMAG for regulatory affairs of Feraheme FDA extended indication for IDA on Feb. 2018)?, why did Chambers leave and why did IR not communicate? what’s going on with Corporate Legal Counsel upon Adams departure? why did Butler exit? is there a confrontational situation between Keryx and Baupost? why the change and ammended By-Laws? why the lack of transparency with shareholders over the years? why so many anecdotes from shareholders of contact with IR? status of manuf. expanded facilities with BioVectra and Siegfried?, status of temaining $72.3 million supplement? cash running low, is remaining $100 million shelf gojbg to be activated?? etc. etc. etc.
Folks, imo, the recent IR exchange is a total and complete aberration, a non-event - yet, seemingly, it seemed to coincide with pps taken lower.
ALL IMO
As per poster Yoshka’s/gwells bilateral high level talks with Keryx IR, communicated thru a post which garnered 32 thumbs-up...
“3) Right now she estimates market penetration at 5%. They did not prepare properly for the launch. They are recruiting for a new Director of Sales. Currently have 95 reps and she feels they are excellent people. Their turnover is in line with other like companies. Madison has received bonuses tied to performance goals and has not for goals not achieved. Bonuses are not tied to pps. They have met with 80% of the nephrologists targeted and feel this and related journals is the best way to develop sales vs. ads and commercials targeting potential customers.”
So, “they did not prepare properly for launch” 3+ years ago, and NOW, 3+ years later, they tell us?? AND, after 3+ years of mgt. telling us about its advancements in sales activities, expanded sales force, VP Chambers, payor coverage, etc. etc., and for years reading about scripts #’s q over q growth yada yada yada - NOW, 3+ years later, IR talks about “not prepare properly for launch, an event from 3+ years ago, as if it explains 5% penetration?? What happened during 3+ years following the launch, what, they could not recover and rectify? LOL
Folks, really read and reflect on content of quote above referenced from poster Yoshka’s/gwells IR post - do any of you actually think it addresses any of the concerns at this juncture? In my opinion, it’s a complete CROC..
____________________________
“4) When asked if Klarman was playing both sides of the coin with shorting, she said absolutely not as they have a person on the board and that somehow allows them to ensure that. (Not sure how that works)”
Folks, think about it, imo, the above question posed and answer from IR is so terribly out-of-whack, tangled. First, what was the actual purpose of the question - to know if Baupost is shorting, at this jucture, after 4 years?? Expecting exactly what reply from IR, that Baupost is in fact shorting?? And then think about the reply from IR - that they “absolutely” know for a fact that Baupost is not shorting because they have a person on the BOD and “somehow allows them to ensure that”??? LOL Why ask specifically about Baupost and not about other major institutional investors, as an example, about Rockwell recently going “stealth” under 5% and potential implications as discussed here.?? Why was this topic even chosen as a necessary question to ask, with what purpose, versus so many other topics of concern at this juncture? IMO, it’s ludicrous, another CROC.
Think about it...
ALL IMO
In a follow-up post, poster Yoshka/gwells goes on to share...
“Just received an email from Amy at Keryx. She was concerned that misconstrued something she related to me. She related that the commercialization team for hyperphosphatemia was only in place for three months prior to launch and that they have been in preparation for IDA launch for 2 years, Sorry for any misunderstanding.”
So, 3Q2017 quarterly cc on Nov. 7, 2017, guidance withdrawal coincides with IDA approval, sub-$5 going on 5 months, sub-$5 to coincides with tax loss selling - and Holmes comments that guidance withdrawal responds to..
“As we stated in our press release, given approval and the potential of the additional indication on future prescription demand, net dynamic surrounding Auryxia’s payer mix and prescription demand in the third quarter, we are withdrawing our 2017 financial guidance.”
WOW, guidance withdrawal given IDA approval and potential of additional prescription demand, yet, as per poster Yoshka/gwells, IR communicdated that...
“they have been in preparation for IDA launch for 2 years”
Nothing makes sense - outrageous!..
ALL IMO
Fellow investors, just so you understand Auryxia’s blockbuster potential and the insane screw-job that Keryx shareholders are facing with Kerx’s pps at sub-$5 going on 5 MONTHS since IDA approval..
https://www.medscape.org/viewarticle/876836_2
Kerx’s pps should be at $10 minimum, and that’s only because of the level of dilution the “gangstas” have employed over the past 4 years (including conv. notes and addtl. $75 supplement, without $100 million remaining shelf, outstanding shares at some 170 million).
Screw-job dilution while subsidizing hefty compensation packsges and excessive options while delivering nothing but nightmares for shareholders. But, as goes the hypothetical, the “plot” goes DEEP..
ALL IMO
Fellow investors, in my opinion, questions arise concerning if what we were fed by Madison/Holmes 2-21/2 years ago was a total croc? IMO, questions arise concerning if Keryx ever had any intentions of partnering in EU during past years since EU approval? Again, imo, it goes back to hypo scenario Keryx/AMAG/Rockwell Medical - “sequence of events...during past some 4 years and as we speak, are interrelated. In other words, Keryx’s development/true advancement as a company during past years has not been truly independent, but rather in function to some degree of AMAG and Rockwell Medical and, at the core, timeframe involved while and until generics FDA approved and launched.”
Now, imo, what Keryx HAS done during past years since EU approval is lay groundwork for when the time arrived to implement EU, as have posted in past in reference to Fexeric EU internet due diligence found in following post..
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=139373421
So, where is this going? IMO, potentially, Keryx will now surface an EU deal, 21/2 years later, as part of “a plan”. The EU announcement, if realized, would potentially serve as “next step” and represent an opportunity to tout “an accomplishment” and “distract” in midst of ongoing machinations as per hypo scenario - conjecturing, calculated “next step” to sorta “throw sand” at damage consummated (i.e. pps sub-$5 since IDA approval going on 5 MONTHS, nevermind the past years). Also, sorta “camouflage” underlying bigger picture which, so goes hypothetical, responds to ownership control, potential merger with AMAG which in turn serves as route to overcome Baupost/Abrams as an obstacle, prior to “takeunder” at cheap.
ALL, in my opinion, hypothesizing, thinking out loud, conjecturing if you will.
The European Medicines Agency (EMA) approved Fexeric with broadest possible label, for broad use, in pre-dialysis and dialysis settings, to control hyperphosphatemia in adults with CKD. The EU Commission considered ferric citrate a New Active Substance, which provides 10 years of data and marketing exclusivity in Europe. Furthermore, given no iron warning, some analysts project that nephrologists in EU will prescribe Fexeric considering full benefits i.e. IDA.
This was some 21/2 years ago, 21/2 YEARS AGO - incredible. This goes back to hypo scenario Keryx/AMAG/Rockwell Medical - “sequence of events...during past some 4 years and as we speak, are interrelated. In other words, Keryx’s development/true advancement as a company during past years has not been truly independent, but rather in function to some degree of AMAG and Rockwell Medical and, at the core, timeframe involved while and until generics FDA approved and launched.”
In quarterly conference calls following EU approval, 2+ years ago, Madison led shareholders to believe that the company in duscussions and actively seeking a EU partnership. The following Madison comments from 3Q2015, 4Q2015, and 1Q2016 conference calls..
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In 3Q2015 cc, Madison’s comments were clear and straightforward..
“While it’s not provided specific timeline to our partner, and potential launch, our commercial plan is to partner in the EU, either through pan-European partnership regional partnerships.We continue to engage with potential partners to evaluate the best opportunity to make Fexeric available to the thousands of adults in Europe with chronic kidney disease or also taking new account to pricing dynamics that exist in Europe today.”
As we laid out today, the commercial strategy is to partner in the EU, either through Pan-European partnership. At this point we don’t comment on which companies nor the timing of the potential transaction, but to some extent those discussions were
ongoing”
__________________________________
In 4Q2015 cc, Madison continued clear and straightforward..
“Second, we expanded our geographic opportunity with the approval of ferric citrate in EU and are currently seeking partners to commercialize Fexeric in this region.”
Although, in Q&A session, Madison kinda changed his tune a bit..
“Regarding Europe at this point in time, I would say from a – we have looked at pan-European opportunities as well as regional based opportunities. I think we are leaning more towards our regional based approach overall, regards as you think about Europe. The European marketplace it is complex, and there is a lot of pricing pressure over there. In addition, you do have some generics development that is appeared in countries in a very limited fashion, but when you think about the European pricing model, sometimes that triggers a mandatory price discount. So, there are some countries that can [indiscernible] or less valuable than others. So, as you think about our regional base partnership approach, that’s kind of the focus we are looking at right now and our goal is to identify a potential partner and we will keep you update along the way.”
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In 1Q2016, the tune kept changing with following Holmes comments..
“In terms of Europe we continue to work with financial partners in Europe. It’s kind of taking longer than we’d like to see. At the core issue there, there’s just a lot of uncertainty today around pricing with some of the introduction of generic Renvela in certain market places.
Now we believe we have a product profile which supports pricing similar to other branded phosphate binders and so we do plan to continue our reimbursement work with our dossier, so we start at the beginning of the year and plan to continue to submit those to the pricing authorities overall in 2016.”
__________________________________
continued...
FEXERIC labeling AND package leaflet (Website: RXed.eu)
U.K.
https://rxed.eu/en/f/Fexeric/
France
https://rxed.eu/fr/f/Fexeric/
Germany
https://rxed.eu/de/f/Fexeric/
Italy
https://rxed.eu/it/f/Fexeric/
Greece
https://rxed.eu/el/f/Fexeric/
Hungary
https://rxed.eu/hu/f/Fexeric/
Netherlands
https://rxed.eu/nl/f/Fexeric/
Finland
https://rxed.eu/fi/f/Fexeric/
Norway
https://rxed.eu/no/f/Fexeric/
Czech Republic
https://rxed.eu/cs/f/Fexeric/
Iceland
https://rxed.eu/is/f/Fexeric/
Portugal
https://rxed.eu/pt/f/Fexeric/
Poland
https://rxed.eu/pl/f/Fexeric/
Croatia
https://rxed.eu/hr/f/Fexeric/
Bulgaria
https://rxed.eu/bg/f/Fexeric/
Estonia
https://rxed.eu/et/f/Fexeric/
Slovakia
https://rxed.eu/sk/f/Fexeric/
Slovania
https://rxed.eu/sl/f/Fexeric/
Malta
https://rxed.eu/mt/f/Fexeric/
Lithuania
https://rxed.eu/lt/f/Fexeric/
As put forth previously, hypothetical scenario considers “a plan”, some 4 years in making, directed at building leading renal operation, with underlying core objective being to address generics coming to market of Big Pharma company operating in the “shadows”, strategizing to bring together 3 small biotech companies under its roof, Keryx, AMAG, and Rockwell Medical.
As such, goes the hypothetical, sequence of events for each of 3 small biotechs, varied in description, subject matters, and binary events depending on company, during past some 4 years and as we speak, are interrelated. In other words, Keryx’s development/true advancement as a company during past years has not been truly independent, but rather in function to some degree of AMAG and Rockwell Medical and, at the core, timeframe involved while and until generics FDA approved and launched.
If hypothetical has validity, could potentially explain following...
1- Keryx failing to fully commercialize, monetize, its promising drug candidate, Auryxia/Fexeric. It has now been some 31/2 years since inital approval for Auryxia, 21/2 years since EU approval for Fexeric, and 4+ months since IDA approval. This calls into question Keryx’s mgt. and BOD potentially being compromised by “a plan” vis a vis true intentions to build shareholder value during the past years.
2- Keryx mgt. continually keeping investors in dark. Keryx mgt. has been running company in an opaque manner which has made it extremely difficult to recognize its true “strategy”, making it nearly impossible for investors to effectively manage investment decisions concernings holdings in Keryx. Keryx has repeatedly disappointed investors and analyst base through lack of performance, poor guidance and lack of effective and transparent communication.
3-Point #1 above, along with company poor compensation practices, has cost shareholders greatly in terms of cash burn and dilution. Executive mgt. has been beneficiary of hefty compensation packages with salaries and benefits, including excessive stock options despite horrific performance on many fronts, and taking advantage of continued low stock price which, potentially, they helped create. The lack of any merit-based structure and continued rewarding mgt. simply for occupying their positions, has become increasingly evident. In turn, this speaks volume and can be characterized as dismal corporate governance.
4-Since initial FDA approval some 31/2 years ago, the fluctuations and historical trend of Keryx’s share price vis a vis short interest, puts into question the existence of a short trading/options trading operation which has seriously disrupted and hurt the company’s market valuation and shareholder value for years. Said operation potentially responding to “a plan”, with a multi-year timeframe, compromising Keryx’s true advancement as a company and shareholders best interests, and allowing for amassing of huge profits in benefit of forces operating in “shadows”, at the expense of company market cap/shareholder value.
5-Majority/Controlling ownership. The forces operating in “shadows”, namely Big Pharma company via 3rd parties acting on its behalf, particularly as of late, have put in motion a power play to acquire majority/controlling interests with the end ojective of employing a “take under” at the cheap.
If one performs detailed due diligence and reviews history during past years for each of 3 companies in mention, Keryx, AMAG, and Rockwell Medical, points #2, #4, and #5 can be applied across the board. The following, potential key company-specific scenarios worth mentioning, directly related to “a plan”..
Keryx - only key potential scenario worth mentioning is a hostile situation between the forces operating in “shadows” and Baupost/Abrams, explained in previous posts. Such scenario, considers Baupost/Abrams as an obstacle for forces operating in “shadows”.
AMAG - connecting dots between Keryx/AMAG put on display ad nauseum. Again, worth mentioning, a potential merger of sorts with Keryx, combining 2 companies, an serving as a mechanism, a route, to supersede Baupost/Abrams for control of Keryx, thus, overcoming Baupost/Abrams as an obstacle.
Rockwell Medical - here we have a peculiar situation with Founder, CEO, and major shareholder being an obstacle for forces operating in “shadows” to gain control of company. In this sense, imo, machinations underway to address situation. Curious enough, in past few trading sessions, similar to Keryx, trading volume usually high, with share price taken down considerably. In the case of Rockwell, and utilizing its 2017 4th quarter and yearly results cc on Thursday as “catalyst”, pps taken down 20% in last 2 trading sessions with volume 4 times avg.
All the above in my opinion, hypothetically speaking, but nonetheless, potentially, a very unfortunate and very costly (financially and in terms of time/lost opportunity) situation common shareholders.
As put forth previously, hypothetical scenario considers “a plan”, some 4 years in making, directed at building leading renal operation, with underlying core objective being to address generics coming to market of Big Pharma company operating in the “shadows”, strategizing to bring together 3 small biotech companies under its roof, Keryx, AMAG, and Rockwell Medical.
As such, goes the hypothetical, sequence of events for each of 3 small biotechs, varied in description, subject matters, and binary events depending on company, during past some 4 years and as we speak, are interrelated. In other words, Keryx’s development/true advancement as a company during past years has not been truly independent, but rather in function to some degree of AMAG and Rockwell Medical and, at the core, timeframe involved while and until generics FDA approved and launched.
If hypothetical has validity, could potentially explain following...
1- Keryx failing to fully commercialize, monetize, its promising drug candidate, Auryxia/Fexeric. It has now been some 31/2 years since inital approval for Auryxia, 21/2 years since EU approval for Fexeric, and 4+ months since IDA approval. This calls into question Keryx’s mgt. and BOD potentially being compromised by “a plan” vis a vis true intentions to build shareholder value during the past years.
2- Keryx mgt. continually keeping investors in dark. Keryx mgt. has been running company in an opaque manner which has made it extremely difficult to recognize its true “strategy”, making it nearly impossible for investors to effectively manage investment decisions concernings holdings in Keryx. Keryx has repeatedly disappointed investors and analyst base through lack of performance, poor guidance and lack of effective and transparent communication.
3-Point #1 above, along with company poor compensation practices, has cost shareholders greatly in terms of cash burn and dilution. Executive mgt. has been beneficiary of hefty compensation packages with salaries and benefits, including excessive stock options despite horrific performance on many fronts, and taking advantage of continued low stock price which, potentially, they helped create. The lack of any merit-based structure and continued rewarding mgt. simply for occupying their positions, has become increasingly evident. In turn, this speaks volume and can be characterized as dismal corporate governance.
4-Since initial FDA approval some 31/2 years ago, the fluctuations and historical trend of Keryx’s share price vis a vis short interest, puts into question the existence of a short trading/options trading operation which has seriously disrupted and hurt the company’s market valuation and shareholder value for years. Said operation potentially responding to “a plan”, with a multi-year timeframe, compromising Keryx’s true advancement as a company and shareholders best interests, and allowing for amassing of huge profits in benefit of forces operating in “shadows”, at the expense of company market cap/shareholder value.
5-Majority/Controlling ownership. The forces operating in “shadows”, namely Big Pharma company via 3rd parties acting on its behalf, particularly as of late, have put in motion a power play to acquire majority/controlling interests with the end ojective of employing a “take under” at the cheap.
If one performs detailed due diligence and reviews history during past years for each of 3 companies in mention, Keryx, AMAG, and Rockwell Medical, points #2, #4, and #5 can be applied across the board. The following, potential key company-specific scenarios worth mentioning, directly related to “a plan”..
Keryx - only key potential scenario worth mentioning is a hostile situation between the forces operating in “shadows” and Baupost/Abrams, explained in previous posts. Such scenario, considers Baupost/Abrams as an obstacle for forces operating in “shadows”.
AMAG - connecting dots between Keryx/AMAG put on display ad nauseum. Again, worth mentioning, a potential merger of sorts with Keryx, combining 2 companies, an serving as a mechanism, a route, to supersede Baupost/Abrams for control of Keryx, thus, overcoming Baupost/Abrams as an obstacle.
Rockwell Medical - here we have a peculiar situation with Founder, CEO, and major shareholder being an obstacle for forces operating in “shadows” to gain control of company. In this sense, imo, machinations underway to address situation. Curious enough, in past few trading sessions, similar to Keryx, trading volume usually high, with share price taken down considerably. In the case of Rockwell, and utilizing its 2017 4th quarter and yearly results cc on Thursday as “catalyst”, pps taken down 20% in last 2 trading sessions with volume 4 times avg.
All the above in my opinion, hypothetically speaking, but nonetheless, potentially, a very unfortunate and very costly (financially and in terms of time/lost opportunity) situation common shareholders.
You see, folks, RMTI founder, CEO, and owner of some 10% of the company, Robert Chioini, has allegedly been acting fraudulent and has amassed a fortune.
Hypothetical scenario goes as follows, imo: The “powers that be” wanting to take control of RMTI need Chioini “out of the way”. So, acting on alledged fraudulent action, “full court press” against Chioini as posted yesterday i.e. BOD shuffle, Raymond Brothers, etc..
With Kerx, so goes the hypothetical, same “powers that be” wanting control - different “schematics”, but “out of the way” applies to Baupost/Abrams..
Again, hypothetical scenario, all imo.,
The following, the complete hypothetical scenario, the ultimate thinking outloud, with “bells and whistles”...
Folks, lets construct a complete hypothetical scenario of the touted “building a leading renal company”. It all revolves around, at the core, a billion $$$ franchise, top profit generator for a BIG PHARMA which, some 4 years ago, was projected to come to an end (4 years later), with the introduction of generics. As such, a vision, a project, was outlined and put to work, involving the coming together of a number of companies, a number of drugs, to compete hard in the renal space. Baupost joined the vision, the project, via Keryx in January 2014 and, in Dec. 2015, John P. Butler, CEO of Akebia (Vadadustat) and BOD Director of Relypsa (Veltassa), officially joins the vision, the project, as Keryx BOD Chairman. Somewhere between end of July 2016, when it became official that Relypsa was set to sign with Vifor and not Sanofi, and Relypsa BOD Director John P. Butler recused himself from voting on Relypsa/Vifor deal due to conflicts of interests, meaning ties with the vision, the project, “building a leading renal company” - somewhere between end of July 2016 and May 2017 (Butler signs with Vifor), an integral part of the vision, the project, now in full swing, became sour. The integral part being Butler/Akebia and the product being HIF stabilizer Vadadustat. But this unfortunate development, potentially caused by a deep conflict of sorts between Baupost/Butler and Keryx, did not deter the vision, the project, “a plan”, given it involved other companies, other products. However, the Baupost/Keryx relationship took a hit, became sour, reason why Abrams showed-up - and it has continued till today, as we speak, goes the hypothetical scenario.
So Akebia/Vadadustat out of the vision, the project, “a plan”, but “building of a leading renal company” continued with Keryx and the other companies/drugs, as before mentioned. The other companies/drugs being AMAG/Feraheme (and women’s health of interest) and RMIT/Triferic. Could continue in detail to include the connecting dots for AMAG and RMIT, but this post would become more of VERY long write-up. Needless to say, the AMAG connecting dots have been put forth ad nauseum - the RMIT connecting dots are somewhat different, but are there. These I leave for fellow investors to construct - by now, fellow investors should be “trained” to do just that. The AMAG component directly tied to Keryx (merger) goes the hypothetical, and as put forth in a previous post, the route to not only bring Keryx/AMAG together but, in doing so, serving as the “mechanisms” thru which to “supersede” Baupost/Abrams ownership and take control of Keryx. The RMTI component, not directly tied to Kerx as in the case of AMAG (merger), but nonetheless part of the vision, the project, “a plan” - “building of a leading renal company”. However, as posted to poster KEL in the form of a question yesterday, the vision, the project, “a plan”, involves acquiring majority controlling ownership of the companies followed by a take under at the cheap, Keryx included.
Now, during the developmental years of the vision, the project, “a plan”, years in the making prior to generics hitting the market, a number of underlying machinations and factoring-in of key events apply across the board, for all companies part of “building a leading renal company”, such as, laying groundwork, short trading/options operation generating massive profits, controlled commercialization of products, FDA approval of extended indications, acquiring majority ownership/control, etc. Also, during these years, a WIDE ARRAY of other sequence of events have taken place, different and varied depending of which company you want to look at/ review. At this juncture, after all components/machinations of the vision, the project, “a plan” have been realized or in final stages of being consummated, and with generics now launched and cannibilizing like piranhas, end game in sight.
Brilliant strategy by the Big Pharma company, top 5 in the world. Highly commend the strategy, embrace it, wish it a most successful future in competing effectively with the likes of Vifor Fresenius. But, the brilliant strategy, has not been shareholder friendly. It has taken common shareholders on a very long ugly ride and, the end game, might short-change the true value and ROI for common shareholders after all these years.
In the case of Keryx, Baupost/Abrams in the mix, at odds with the “powers that be” goes the hypothetical scenario, and how Baupost/Abrams are playing/play this out, is unknown.
As stated, much more to say, much more to include and go along with this post, but it would become a VERY long write-up, much longer than it already is.
ALL the above in my opinion, hypothetical, thinking outloud, in theory...
Notice the unusual mentions here today of Baupost and Abrams, either indirectly thru Orex or directly such as post from poster gerald..
“But, in the end it is up to Baupost/Abrams how long they put up with poor sales of a good drug”
Kinda gives it away, imo - stupid is as stupid does.
Btw, if hypothetical scenario put forth in last few days has validity, Abrams acquiring additional 4 million shares in open market during 4Q2017, potentially, is a sign Baupost/Abrams want to put up a fight.
ALL IMO
Fred, Is Fidelity in the toxic mix of player "manipulating" that you speak about? Buffett cannot be dismissed for alerting the "public" that in its "core," the stock market remains an "insiders game" so when he teaches or his Messiah, Graham once taught, "Mr. Market is there to serve you, not instruct you," having insiders use their bully pulpits to steal and plunder "commoners" should not be a surprise to any of us with "EYES WIDE OPEN" and brain tuned into "Caveat Emptor." This deception, of course, although significantly more complex, would be deemed "illegal" and subject to "the rule of law" as our class brain trust has informed us. TIA, and thanks for all your continued hard work.
We recently found out that Norges Bank Investment Mgt. accumulated Kerx holdings of 2.1 million shares. The following an excerpt from an article...
“Deutsche Bank will slash 9,000 full-time jobs, 6,000 contractor positions and sell operations with 20,000 more workers. By 2018, the cuts and disposals are to shrink the bank's workforce from around 103,000 to 77,000. The major shareholders in the bank are Norges Bank Investment Management and their American Partner BlackRock, reports Nordens Nyheter ...”
As per my last prior post (link below), there’s seems to be a close relationship between BlackRock and Sanofi. The excerpt above shows a connection between BlackRock and Norges Bank Investment. IMO, Vanguard, State Street, Clearbridge etc. in the mix.
__________________________________
Let’s not forget that Daniel P. Regan (Keryx’s BOD leadership, imo) and Greg Madison are ex-Sanofi Genzyme (SG) and worked together. (Regan’s career at SG included his appointment as Global General Manager, Senior Vice President of the Renal franchise, with direct responsibility for all aspects of worldwide renal commercial operations, including the Renagel®/Renvela® phosphate binder franchise and the worldwide launch of Renvela®, growing the renal franchise to global revenue approaching $1 billion).
Now, John P. Butler, Keryx’s ex-BOD Director and Baupost’s guy, was replaced by Mark J. Enyedy. (Enyedy served 15 years at Sanofi Genzyme (SG). He began his career at SG in 1996 as Corporate Counsel where he was responsible for overseeing corporate collaborations, merger and acquisition activities, financings and securities law compliance.) Keryx’s Corporate Counsel Brian Adams gone.
Here’s the thing, again, as per my prior post (link below), Sanofi could be making a power move to acquire controlling ownership of Keryx. Now, could there be a hostile environment between Sanofi and Baupost? - situation directly related to Butler exiting Keryx and signing with Vifor Fresenius? Could it go back even further (for those of you who know) to Vifor Fresenius snatching Relypsa from Sanofi with Butler being Relypsa BOD Director.?
IF Sanofi making a power move to acquire controlling ownership of Keryx (price being kept in check), again, let’s not forget Regan, Madison, and Enyedy are ex-SG. Hostile environment with Baupost? Who knows, conjecture, after all, Baupost just wants his ROI imo, if it’s there, no problem.
Hey, poster 2Cents, 3 pennies less than a nickel PUNK, you have anything to contribute, PUNK?
ALL IMO
Yesterday I posted that Blackrock Inc. filed (January 2017) form SC 13G/A disclosing ownership of 68.2 million shares of Sanofi or nearly 6% of the company. The post goes on to read, “To give you and idea of what that means in terms of BOD and voting rights, Sanofi’s TOTAL institutional ownership is nearly 10%.” Well, seems I overlooked a Feb. 8, 2018 Blackrock SC 13G/A filing where it discloses not 68.2 million but 84.9 million shares of Sanofi or 6.9 ownership. This scenario potentially repesents a very close relationship between Blackrock
and Sanofi.
https://www.streetinsider.com/dr/news.php?id=13782187
Yesterday, poster Dave makes reference to Blackrock “going dark” with a VERY recent 13G filing, 4 days ago, March 5, 2018, disclosing a decrease in Kerx holdings from 6.1 million to 5.9 million shares to put Blackrock just under 5% ownership or 4.96%. Poster Dave notes, “holdings slightly below 5% ? Will this allow them to take a much larger position without immediate disclosure”...”attempt to veil a much larger next move ?” What this potentially means is that Blackrock may be looking to triple down, quadruple down, or more on Kerx holdings, some 20 million shares or more. Now, where would those shares come from? Well, there’s the $100 million on shelf which, if placed at say $5, that’s 20 million shares.
Now, going back to the assertion/belief that Sanofi has ownership in Kerx via institutional 3rd parties acting on its behalf, and given the seemingly close relationship Sanofi/Blackrock (see above), Blackrock could potentially be representing Sanofi. But, the assertion/BELIEF considers not only Blackrock but also other institutions like State Street, Vanguard, Clearbridge, and a few others. So, if Blackrock “veils a much larger move” (as per poster Dave’s comment) of say an increase from current 5.9 million to 25 million shares, along with SS/Vanguard/Clearbridge and a few others, holdings could potentially reach some 55 million shares PLUS possible open market purchases, PLUS there’s the remaining $73.2 million from $75 million addtl. supplement (some 15 million shares at est. $4.75) - some 70 million shares total. Baupost/Abrams, including conv. notes, at 68.9 million. See where I’m going with this? Obviously, all the before mentioned responds to hypotheticals and estimated #’s, but it could happen. Finally, IF IF the before illustrated hypothetical scenario should play out, an underlying good housekeeping question would be: Are Sanofi and Baupost in harmony, or is there a hostile environment? Get it, hostile?
Look, let me be clear, no matter what my differences with poster Dave might be (have my reasons), with the exception of when he “acts out” due to bad coffee intake in his area of engagement, poster Dave is a sharp dude.
ALL, in my opinion
Hi Amy,
Thank you for your response. Was this unexpected, and what are the company's plans to replace him in what amount of time? Are systems in place that with or without his leadership role, sales will continue accelerating?
Thanks again,
KarlDieGlatze
Shareholder
Confirmation has been given officially that "Mr. Chambers has resigned."
“Cleaning the floor with me? Is that what this is about for you, an underlying hidden aim at countering and throwing sand on “findings” in an ATTEMPT to cover-up? Ohh Carmen, your efforts are noted, but your badly constructed “screenplay”, improvisations, and continued “true color” replies fall short (pun intended), deeply disenchanting, and a big disappointment. Thought you’d be a finer ballplayer but the whiffing is overwhelming.
$100 million shelf for going-it-alone? But Dave, thought you said Blackrock wants to go stealth, “much larger position”, “veil a much larger next move”? You see, in the assertion/Belief of Sanofi ownership via 3rd parties, BRock would be one of them, so your stealth scenario is a Sanofi “power move”. A Sanofi “power move” is not going-it-alone, Yoshka.
Extend my best and nicest regards,
Ringo (haha)
@Dave Let’s see, you start peddling the go-it-alone “screen play” 5 days ago. You employ numerous posts during a 5-day period peddling go-it-alone, yet you fail to mention once the $100 million shelf which, by any and all intelligent measures, would have to be a centerpiece of the “screenplay”. So, 5 days out, and ONLY as a direct result and reaction to my inquiry on the $100 million shelf, you now incorporate it as, “the strongest evidence of all that we are going it alone”?. LOL, if its the strongest evidence OF ALL, why didn’t you incorporate it as part of you “SCREENPLAY” during 5 days of peddling your go-it-alone?
Here’s the thing, setting you up and you are stumbling by improvising bs as you go along with your badly constructed “screenplay”. Same as you did when I exposed the 55+ headcount with names and titles of a Big Pharma-like organizational structure going on over at One Marina Park Drive. You jumped on that like white on rice and called it, paraphrasing, “part of my going-it-alone theory”. The “screenplay” sucks, whiffed and failed miserably. Your agenda points towards confusing, distorting, and misleading.
Btw, you asking for evidence on my assertion/BELIEF that Sanofi has ownership via 3rd parties acting on its behalf, is yet another Carmen red flag, a big one. Evidence on undisclosed holdings employing 3rd parties??? Ohhhh, Carmen.
See you at Saucon Valley, bring gwells and Yoshka, and remember, stay thirsty my friend. LOL
Fellow investors, in GENERAL, let’s review key points of a hypothethical scenario which have discussed at length, so a great number of important details omitted at this time.
Last 4 years, “a plan”, finely calculated, by design, laying groundwork for Auryxia (Fexeric) while “closely managing” sales development ($92.8 million in 3 YEARS???), amassing big profits for “controlling powers” via short trading operation, and manipulating stock price - end game, goes the hypothetical, build renal company to replace blockbuster phosphate binder Renvela (once generics on market) with added blockbuster IDA potential market, competing effectively with giant player in space, Vifor Fresenius. Later incorporated, based on research leading to many connecting dots (Keryx/AMAG), is AMAG’s Feraheme AND women’s health portfolio, and hypothetical scenario always considering Sanofi as m&a suitor and matching giant player (women’s health being of interest to Sanofi).
More recently, past 4 months, hypothetical scenario considers power play to gain deep majority ownership of Keryx at the cheap by “controlling powers”, reason why pps has been held “hostage” below $5. All along, from the start, Baupost (with Abrams surfacing later) being the major controlling lead player on the investor side.
However, yesterday the hypothetical scenario incorporated yet another variable into the mix - an assertion/BELIEF that Sanofi has undisclosed ownership in Keryx (and AMAG) via 3rd parties/institutions investing on its behalf. If this be true, the hypothetical scenario becomes finely tuned, as it would further explain short interest activity and further support the underlying key points in terms of Auryxia replacing Renvela, and Sanofi as the m&a suitor and matching giant player to compete with Vifor Fresenius. As common investors, and after years of being dragged thru the “muds of hell” with this investment, imo, we are at a critical juncture where. IF the hypothetical scenario has validity, nothwithstanding the continued manipulative activities by the “controlling powers” to gain increasing majority ownership, imo, the end game is near given that the coming together of a renal company to replace Renvela with Auryxia/Feraheme and implement a frontal competitive operation vis a vis Vifor Fresenius, needs to happen soon. Generics cannibalizing and Vifor Fresenius moving forward aggressively.
As for poster Dave, imo, time and time again, he has proven to be, let’s just say, highly suspect. For those of you paying attention over the years, yesterday morning, and evening, it was clearly put on display, yet again, with bogus statements, terribly flawed posts, geared towards confusing, distorting, and misleading. The gwells/Yoshka Saucon Valley stay thirsty masquerade, conceived from an operating area with bad coffee, doesn’t jive no mohh. haha
ALL, in my opinion..
@Carmen At this time, projected, they have some +/- $80 million cash to go-it-alone?? $100 million remaining in shelf - ate they going to the shelf again, Carmen?? Potential EU upfront?
Make a case, Carmen - put-up or ....
IMO
Found another Senior Manager, 3 Manager level, and Consultant. That makes a total of 55, and there’s more. These 55, and more, are IN ADDITION to salesforce/managed market personnel, administrative personnel and of course the Executive “All Stars”.
Folks, as per zoominfo, we’re talking 250 + headcount, Keryx filings just say 200+. That’s alot people, folks, all seemingly kept hush hush. IMO
Nicole Corcoran - Senior Manager, Trade and Managed Markets Operations
https://www.zoominfo.com/p/Nicole-Corcoran/-1224907591
Margaret Wright - Consultant
https://www.zoominfo.com/p/Margaret-Wright/-1872311453
Nicole Michaelson - Manager, Regulatory Affairs
https://www.zoominfo.com/p/Nicole-Michaelson/1578321977
Nicole Lorigan - Manager, Supply Chain Operations
https://www.zoominfo.com/p/Nicole-Lorigan/1879259914
Jeffrey Schlesinger - Procurement Manager
https://www.zoominfo.com/p/Jeffrey-Schlesinger/1950346299
Below list of 50 (as per zoominfo) of 200+ headcount (not including sales force/managed markets personnel of 120 as per 2017 10-K, manager level personnel, admin. assistants, etc.) While KERX’s pps held “hostage” under $5 for 4 MONTHS following IDA approval (unreal), AFTER 3+ gruesome years of what appears dubious machinations tied to “a plan” in detriment of common shareholders, imo; while mgt. enjoys riches and short trade/options operation amassing fortune for controlling powers, imo; and 2 FDA approvals, EU approval, and the rest — take a look below at list of VP’s, Senior Directors, Directors, and other, and their job titles/job specifics built around a one-drug small biotech company?? (seem normal to you or BIG Pharma footprint in structure of job titles/job specifics?) Nevermind 27,300 square feet of office expansion, multi-million renovations, Master manuf. agreements, apparent Fexeric development efforts in Western/Eastern Europe as per internet links, in other words, groundwork, infrastructure, human resource development which, imo, has been ongoing behind the scenes/shareholders in the dark. What to make of all this? Kinda reveals blockbuster projections for Auryxia/Fexeric which, imo, attempt to conceal, no? Folks, Renvela was selling nearly 1 billion $$$ WITHOUT IDA component b4 generics hit. AGAIN, the Keryx story is one for the books, never seen anything like it. (not to mention the AMAG connectionS) ALL IMO
Darla Champigny - Corporate Counsel
https://www.zoominfo.com/p/Darla-Champigny/-1041896241
Kelly Pitt - Associate Counsel
https://www.zoominfo.com/p/Kelly-Pitt/-1808466432
Lisa Shrayer - VP Legal
https://www.zoominfo.com/p/Lisa-Shrayer/-1068290929
Lisa Lorem - Regulatory Affairs
https://www.zoominfo.com/p/Lisa-Loram/-1979235961
Edward Cullen - VP PreClinical and Clinical Development
https://www.zoominfo.com/p/Edward-Cullen/1578321972
Barry Cohen - VP Business Development
https://www.zoominfo.com/p/Barry-Cohen/-1742593195
Daniel Olmstead - VP Payer Access
https://www.zoominfo.com/p/Daniel-Olmstead/1178231277
Enrique Poradosu - VP Scientific & Business Strategy
https://www.zoominfo.com/p/Enrique-Poradosu/1173592361
Maureen Curran - VP Drug Safety and Pharmacoviligance
https://www.zoominfo.com/p/Maureen-Curran/1964509500
Kenneth Hoberman - VP Business Development
https://www.zoominfo.com/p/Kenneth-Hoberman/1220814535
Robert Nisch - VP CMC Operations
https://www.zoominfo.com/p/Robert-Nisch/-2108162153
Mark Hazard - VP Head of Quality
https://www.zoominfo.com/p/Mark-Hazard/-1193816148
Lou DeBergalis - VP Quality Operations
https://www.zoominfo.com/p/Lou-Debergalis/1258713457
Michael Crispin - Executive Director, Information Technology
https://www.zoominfo.com/p/Michael-Crispin/542287183
Matthew Gray - Executive Director, Financial Planning and Analysis
https://www.zoominfo.com/p/Matthew-Gray/-2038336076
Robert Bob - Senior Director, CMC Manufacturing
https://www.zoominfo.com/p/Robert-Bob/-878556517
John Ulyshen - Senior Director of Marketing
https://www.zoominfo.com/p/John-Ulyshen/-1679640828
Sarah Mudholkar - Senior Brand Manager
https://www.zoominfo.com/p/Sarah-Mudholkar/1473295895
W. Findlay - Associate Director, CMC Manufacturing
https://www.zoominfo.com/p/W-Findlay/1936839894
Timothy Fox - Senior Director, Enterprise Applications
https://www.zoominfo.com/p/Timothy-Fox/1475339085
Adam Schayowitz - Senior Director Medical Affairs
https://www.zoominfo.com/p/Adam-Schayowitz/361590494
Alan Herrera - Director HEOR
https://www.zoominfo.com/p/Pharmd-Alan-herrera/-2048361666
Richard Twombly - Senior Director, Commercial Training Development
https://www.zoominfo.com/p/Richard-Twombly/1512918490
Matt Manlove - Senior Director of Infrastructure and Facilities
https://www.zoominfo.com/p/Matt-Manlove/1707185381
Amilcar Ribeiro - Senior Director, Clinical Operations
https://www.zoominfo.com/p/Amilcar-Ribeiro/-980901251
Karen Joyce - Senior Director, Global Regulatory Affairs
https://www.zoominfo.com/p/Karen-Joyce/-2042313831
Katrin Uhlig - Senior Medical Diector
https://www.zoominfo.com/p/Katrin-Uhlig/212298229
Kevin Haynes - Senior Director, Manufacturing and Materials Mgt.
https://www.zoominfo.com/p/Kevin-Haynes/1409110498
Robert Bruno - Senior Director, Supply Chain
https://www.zoominfo.com/p/Robert-Bruno/-1193816149
Bruce Lotz - Director of Manufacturing Operations
https://www.zoominfo.com/p/Bruce-Lotz/-2132717633
Emarjola Boka - Medical Director, Global Drug Safety and Risk Mgt.
https://www.zoominfo.com/p/Emarjola-Bako/-1777970846
Megan Luce - Director, Government Pricing
https://www.zoominfo.com/p/Megan-Luce/-1708677264
Rama Shmeis - Director, CMC Formulation Development and Technology Transfer
https://www.zoominfo.com/p/Rama-Shmeis/-1831790189
Doris Chen - Director, Quality Operations
https://www.zoominfo.com/p/Doris-Chen/1575040860
Lisa Fiering - Senior Director, Human Resources
https://www.zoominfo.com/p/Lisa-Fiering/1787569875
Nancy Sayre - National Account Director
https://www.zoominfo.com/p/Nancy-Sayre/1783936346
Julie Schroeder - Director, Human Resources
https://www.zoominfo.com/p/Julie-Schroeder/2080787641
Sharon Funk - Director, Market Analytics and Insights
https://www.zoominfo.com/p/Sharon-Funk/1401196925
David Sutherland - Director of Accounting, Controller
https://www.zoominfo.com/p/David-Sutherland/-2043147425
Robbie Tantoco - Director, Financial and Analysis
https://www.zoominfo.com/p/Robbie-Tantocoassociate/-1054578252
Bryce Foote - Medical Director, Medical Affairs
https://www.zoominfo.com/p/Bryce-Foote/2027575503
Robin Lewinter - Director, Medical Communications
https://www.zoominfo.com/p/Robin-Lewinter/-1363597264
Noah Mendelson - Director, Business Analytics and Forecasting
https://www.zoominfo.com/p/Noah-Mendelson/-1742457440
Ronald Weiss - Director, Commercial Analytics
https://www.zoominfo.com/p/Ronald-Weiss/1483324829
Daniel Miller - Director, Quality Operations
https://www.zoominfo.com/p/Daniel-Miller/-1951042085
Laura PikeSenior - Director, Investor Relations and Corporate Communications
https://www.zoominfo.com/p/Lora-Pikesenior/-1129145554
James Brauch - Principal Analyst, Business Development and Financial Modeling
https://www.zoominfo.com/p/James-Brauch/-1070896933
Emily Beaulieu - Corporate Affairs, Communications and Digitel Media
https://www.zoominfo.com/p/Emily-Beaulieu/-913625026
Kelly Rebori - Associate Director, Payer Contracting and Operations
https://www.zoominfo.com/p/Kelly-Rebori/-1659351453
Duncan Dewar - Information Technology Endpoint Architect
https://www.zoominfo.com/p/Duncan-Dewar/-1979255431
Fred, sind deine Anwälte mit angehaltenem Atem bereit zum Angriff?
Here’s a bit of a “rattle snake”, fellow investors, conjecturing, imo...
The hypothetical scenario of a potential plan, designed years ago, involving the employment of machinations of all colors and flavors for some 3+ years, among other things, benefiting a short trading operation and detriment of the long trade, has potentially been exposed via ample support of connecting dots i.e. Keryx/AMAG & Auryxia replacing Renvela connections. IF so, IF such a hypothetical scenario has validity, as a result, Keryx potentially finds it necessary to modify/re-arrange/change things around to divert attention, employ a “decoy” sort of speak, in an attempt to disguise the hypothetical scenario of “a plan”.
You see, folks, hypothetically speaking, the overwhelming connecting dots exposed does not bode well for Keryx’s apparent lack of transparency and modus operandi in general during past years. For instance, let’s suppose a Keryx/AMAG merger were to be announced. The announcement would confirm the existence of such “a plan”, thus, confirming the employment of all sorts of machinations during past years. Keryx might find itself in a quagmire of having to “scramble” in order to implement “smoke and mirrors” to conceal as much as possible the existence of “a plan”, by design, put in place years ago. Thus, executing a potential Keryx/AMAG merger might have to be find an “alternate route”, same goes for Auryxia replacing Renvela. The alternate route?? - potentially, postponement, for a lil while, buying time for “clearing of the air”.
Potentially, thinking outloud, reason why you’re seeing posts like “nickels and dimes from here” and “participation in these investor meetings is a bad sign for us longs - This means GM is not leaving (haha, GM leaving was never part of “a plan”, imo) - the press release we wanted was: Sanofi purchases Keryx for 2 billion dollars.”
But, “you can run but you cannot hide” indefinitely. At some point, in the very near future, gotta execute. You see, potentially/so goes the hypothetical scenario, Auryxia replacing Renvela is waiting (generics cannibalizing), Feraheme is waiting, EU is waiting, expanded offices with multi-million renovations are waiting, new exec hires are waiting, AMAG is waiting, Sanofi is waiting, and last but not least, Vifor Fresenius IS NOT waiting. The “charade” cannot be sustained, it crumbles on its own weight.
In the meanwhile, poster Dave’s “departure from my original theory” aka “nickels and dimes from here”. haha
Btw, Keryx participation in Cowen conference might not have been originally programmed, but......
ALL, in my opinion, hypothesizing, conjecturing..
After I complained that they allowed individuals to thumbs up or down their own posts, they disabled my ability to thumbs up or down at all.
Quite the sad story when a true long lends him/herself to the very people who are hurting his/her investment, selling his/her soul for BOGUS thumbs-up. Imagine that, getting your rocks off with a false sense of accomplishment from thumbs-up, BOGUS mind you, from the very vermin who are swindling you.
Such is the case of poster Steve Mack at the KERX Yahoo conversation board. Poor bastard, God bless his soul.
IMO
Folks, imo/hypothesis, as have posted, the past +/- 4 years have been about laying the groundwork for Auryxia to replace Renvela in the U.S. (and EU) once Renvela generics hit the market. Not going to AGAIN provide the rationale and connecting dots to support my opinion/hypothesis - have more than provided such rationale/connecting dots ad nauseum. Not to mention AMAG, for which have also provided rationale and connecting dots to support, imo/hypothesis, a Keryx and Sanofi connection. So, bottom line, the hypothetical considers Sanofi in the mix with Keryx and AMAG, renal and women’s health, in the U.S. market and intl. In other words, imo/hypothetical, the Keryx irregularities and highly suspect sequence of events during the past years, including Auryxia total sales of $92.8 million in 3 YEARS (what Renvela was selling in +/- 6 weeks, haha) are connected to Renvela “playing out” its last years as a top profit generator for Sanofi b4 Renvela generics hit market - with AMAG in the mix for Feraheme and women’s health products portfolio.
Poster Dave is now suggesting that Keryx is going-it-alone in the U.S. without providing any rationale - AND, riddle me this, poster Dave suggesting going-it-alone precisely with the VP of Sales Chambers exiting (by his own posted statement) - AND, as per CafePharma, with Chambers having left in place a PC (Private Contract) or sales of commision informal sales operation in disarray. Now back to AMAG, with two senior execs in sales/marketing and commercialization, Casciano and Grund, both ex-Sanofi. Also, as posted recently, AMAG with high activity in renal hiring (and women’ health. In his posts from today, poster Dave mentions squat about AMAG even though he’s made reference to a Keryx/AMAG connection in the past. etc. etc. etc.
So now, out of nowhere, without providing a shred of ANYTHING, poster Dave puts forth some “theory”. Awaiting a reply from poster Dave. IMO, there’s a hidden agenda.
ALL IMO
From the KERX Yahoo conversation board..
Poster Dave > “Now thinking EU will be 100% licensed out and KERX will continue to service US. (For now)”
@Dave “Now thinking”??? What were you thinking before, that Keryx was going- it-alone in EU? haha
“Keryx will continue to service US. (For now)”??? haha IMO, once the partnership is announced for EU, that’s the partner for U.S. and potential acquirer (thing is, there’s the AMAG piece, imo) and, imo, that partner and potential acquirer is Sanofi. Whether they want to execute a 2-step “song & dance” process (EU being the first step) as a “decoy” to what was “carved in stone” a while back, imo, is just carpentry.
IMO, goes the hypothetical scenario, “a plan” is and always has been Sanofi/Keryx/AMAG - with Akebia/Butler and potentially Relypsa being a part of “a plan”, but that went sour, in fact, a set back for “leading renal company”, goes the hypothetical scenario.
In what order they choose to arrange or re-arrange the sequence of execution for the Sanofi/Keryx/AMAG “a plan” is irrelevant, imo. What’s relelevant, imo, is the structure that will be employed to execute “a plan” and whether that structure will short-change/devalue Kerx shares for common shareholders.
You see, imo and hypothetically speaking, conjecturing if you will, Keryx is in a bit of a quagmire. The thing is, goes the hypothesis/conjecturing, “a plan” put in place a while back seemingly responds to a whole host of machinations/connecting dots. IF so, “a plan” has potentially been “decrypted” and, imo, Keryx might find it necessary to re-arrange things in attempt to better disguise machinations, past and present i.e. potential AMAG merger.
Look, Sanofi’s Renvela/Renagel, a nearly BILLION $$$ drug, has been the BIG KAHUNA in the renal space WITHOUT IDA/iron component. Generics cannibilizing Renvela but, again, without IDA/iron component, meaning CKD on dialysis for hyperphosphatemia ONLY. Then you have a GIANT, drug portfolio and service provider, Vifor Fresenius. Auryxia/Fexeric is Renvela on steroids with IDA/iron component which, together with Feraheme, can compete effectively against Vifor Fresenius. But Auryxia/Feraheme also need a GIANT, that would be a Sanofi.
Soo, what’s the fkn hold-up? IMO, the machinations and ground work are in place after 4 years, tons of $$$ made in short “operations”, controlling/majority ownership at the cheap by the “powers” consummated, the little guy taken for a gruesome extended ride, etc. What else is there to do? Employ the remaining $100 million on shelf and dilute further as part of some further machination? Execute “a plan” already! What’s the sense of continuing with the charade? Vifor Fresenius is forging ahead in full force, time is of essence. Cut the bs, it’s time, and KERX shares for common shareholders should not be short-changed/devalued, already hammered long enough.
Btw, Dave, your post is a nothingburger.
ALL, in my opinion, hypothesizing, thinking outloud..
In a nutshell, fellow investors..
-Outstanding at 12/31/2017 - 119 million shares..
-Fully conv. notes - 33.4 million shares..
-Addl. $75 million prospectus supplement (est. $4.75/share) - 16 million shares
-Current Total projected- 168.4 million shares..
At Dec. 31, 2013, a few weeks b4 Baupost’s initial purchase in Jan. 2014 (PRIVATE PLACEMENT - imo, meaning “a plan” potentially discussed between Keryx and Baupost b4 Baupost committed to initial purchase and multiple purchases that followed leading to conv. notes agreement) - at Dec. 31, 2013, Outstanding Shares were at 82.6 million and Cash at hand was $56 million. So, in 4 years, including conv. notes & addtl. $75 million prospectus supplement, company has more than doubled Outstanding Shares from 82.6 million on 12/31/2013 to 168.4 million projected as we speak, or an addtl. 85.4 million shares. Now, what were the Cash proceeds from placement of 85.4 million shares?
Well, 33.4 million shares (conv. notes) at $3.74 and 16 million shares (addtl. $75 million supplement at est. $4.75) for a total of 49.4 million shares at avg. of $4.05 or $200 million in Cash proceeds. That leaves 36 million of the 85.4 million shares of which approx. 26.8 million shares placed in $14’s and 9.2 million shares at $12, let’s call it 36 million shares at an avg. $13 or $468 million in Cash proceeds. So, $200 million plus $468 million plus $56 million (Cash at hand on 12/31/2013) - Total $724 million. Now add proceeds from Auryxia sales in 2015/2016/2017 of $92.8 million for a total of $816.8 million. (imagine that, $92.8 million in Auryxia sales in 3 years, what Renvela sold in +/- 6 weeks - ahem)..
So, since Jan. 1, 2014, Keryx has generated Cash proceeds of $816.8 million by more than doubling Outstanding Shares and Auryxia sales. Now deduct Cash at hand on 12/31/2017 of $93.5 million - equates to $723.3 million.
So, in the last 4 years, Keryx has gone thru some $723 million (WOW!) which has allowed for the following, imo..
1-Keryx mgt. and BOD enjoying riches..
2-Baupost & friends acquiring majority/controlling ownership of Keryx at the cheap AND, potentially, conjecturing, played short sell operation against the box/options amassing 100’s of millions, recouping investment, and riding free shares..
3-Common shareholders fleeced..
So, after 4 years, 2 FDA approvals, some $723 million spent, few “controlling powers” enjoying riches and amassing fortunes, and many common shareholders fleeced - Kerx’s pps sitting at $4.74 as we speak.
And let’s not forget hypothetical scenario of “a plan”, by design, put in place years ago, with Sanofi & AMAG potentially in the mix which would explain potential hidden machinations/connecting dots, past present. Also, let’s not forget that $100 million remains available from $250 million shelf registration filed in Dec. 2016, which may be employed as part of end game, for example, raise cash to make m&a deal - with end game potentially short-changing common shareholders in terms of true value of their shares, after all these years.
Here’s the thing, folks, at projected 168.4 million Outstanding Shares (IF remaining $100 million shelf is employed, dilution even worse), a buyout for say $20/share represents some $3.4 billion. Is Sanofi going to pay $3.4 billion or is there some other end game in play? IMO, a potential merger with AMAG puts in play a more “complex” end game than just a simple Sanofi acquisition of Keryx. Remember, hypothetical scenario considers end game with Sanofi establishing an m&a relationship with Keryx AND AMAG. How exactly this potential scenario plays out is the question.
Last but not least, a resident “cabal” potentially privy and generating riches from the “operation”. Soo, a few enjoying immense riches during the past 4 years (some three quarters of a Billion spent), except fleeced common shareholders - and Kerx pps sitting at $4.74 after all these years.
So, fellow investors, how’s that for a magic trick?
All the above in my opinion and hypothesizing..
Wir wussten, dass es in den Himmel stank, Fred, aber du hast den detailliertesten Einblick in die Korruption gegeben, indem du die Punkte verbunden hast. Danke, liebe Fred.
@AnfuhrerMitwut IMO, EVERYTHING has become indisputably blatant and obvious, to such an extreme that cannot hide. IMO, manipulation, collusion, mislead, hidden agenda, the works - premeditated, by design, rotten to the core. IMO, almost seems unreal, fictional, but it’s not, it’s real. Wow!
Given exposure, resident “hooligans” in unchartered territory, have no “screenplay” for such an occurence, are in dire straits.
ALL, in my opinion..
How much a clown is he really?
As a yes man he’s collecting an insane amount of shares for his performance...
Butler’s Akebia Therapeutics with $720 million market cap. Butler with no approved product, not a dime in revenue from the sales of product. 47 million shares outstanding, and short % of float at 7.3%. Two products in pipeline.
Madison’s Keryx Biopharmaceuticals with $605 million market cap, $115 million less. Madison with an approved product for 3+ years in the U.S. with 2 indications with $55.5 million sales in 2017, approved in Europe with broad label over 2 years ago. 119 million shares outstanding, plus 33.4 million shares of conv. notes, plus estimated 16 million shares (est. avg. $4.75) from additional $75 million supplement, and short % of float at 25.2%. Single product in pipeline.
Butler on his way to serious business development with partnership in place with Big Pharma giant Vifor Pharma Group which includes provider giant Fresenius. Akebia shareholders happy and excited, imo.
Madison, in review of the history as CEO of Keryx, seemingly, potentially, possibly, a puppet with a 500 pound gorilla of deception and collusion weighing over his shoulders? Keryx shareholders unhappy, abused, with pps being held hostage, imo.
Butler potentially screwed Madison by exiting Keryx with ALL the inside info. on Keryx/Auryxia/Fexeric AND signing with giant monster competitor Vifor Fresenius who even tried to shoot down Auryxia’s IDA approval with FDA.
Hypothethically, Madison’s touted building of leading global renal company envisioned multi-products including Auryxia, Vadadustat, Veltassa, and Fereheme. Butler potentially responsible (directly and/or indirectly) for taking away Vadadustat and Veltassa both which landed in Vifor Pharma Group’s hands.
Well, there you have it, Butler vs Madison - who’s the big boy smart biopharma exec and who’s the corrupt outplayed clown?
ALL, in my opinion..
The gangstas have no shame, imo, after 3+ years of deceit and abuse, the farse continues. Since IDA approval - days, weeks, and months go by, and common shareholders along with Kerx’s pps continue “kidnapped” and held “hostage” by, imo, a hidden agenda, “a plan”. Well, not so hidden anymore, imo, not by a long shot.
The following a hypothetical scenario, thinking outloud. A “flashback”, the Butler episode, whatever happened to Butler? In my opinion, Butler/Akebia Therapeutics (Vadadustat), AND Relypsa (Veltassa) were originally conceived to be part of a “global leading renal company”. For those of you who know the story of Relypsa/Sanofi 2-year detailing agreement for Vetassa, while Butler coinciding as Relypsa’s BOD Director AND Chairman of Keryx’s BOD, and then, out of nowhere, Vifor-Galenica acquires Relypsa and Butler recuses himself of voting on the deal as Relypsa BOD Director. IMO, the Vifor-Galenica/Relypsa m&a deal marked the start of the Butler episode, ending with Butler resigning from Keryx’s BOD and signing with Vifor/Fresenius. For those of you who know the story, think about this hypothetical scenario.
When the Vifor-Galenica/Relypsa deal was known, July 2016, imo, that’s when the “leading global renal company” that Madison has talked about had a set back, the setack being Akebia (Vadadustat)/Relypsa (Veltassa). IMO, hypothesis, the leading global renal company was supposed to be Keryx (Auryxia), Akebia (Vadadustat), Relypsa (Veltassa), and AMAG (Feraheme), with Sanofi as the BIG PHARMA. The Akebia/Relypsa part of the equation went sour, potentially, becuz of Butler, due to either Butler “back-stabbing” or strong disagreements between Butler and Keryx mgt./BOD on how things were to be structured (say, Butler vs Madison as the top guy).
Finally, think about this. Butler resigns and exits Keryx after nearly 2 years as Chairman of Keryx’s BOD and signs with Vifor Fresenius, taking with him all knowledge and inside information of Keryx operations, strategic and potential hidden agenda secrets and strategies and, of course, all info. concerning Auryxia/Fexeric. Butler and Vifor/Fresenius know all, reason why now that Renvela generics hit market anf groundwork seemingly in place, Sanofi global muscle, they need to strike ASAP. My boy Mike, DaVita will play a key role, imo.
Hey 2Cents (one of several long cretins), there’s some thinking for you - you moronic ignorant punk.
ALL, in my opinion..
epgonline.org is for healthcare professionals. It is funded through grants/sponsorship from pharma companies and other organisations supporting the provision of high quality, up-to-date, medical information. It is published by EPG Health Media (Europe) Ltd.
Following is eponline info. for FEXERIC with data from European Medicines Agency (EMC) added since July 2016 and updated September 2017.
(Full prescibing information for FEXERIC directed/marketed to healthcare professionals in Europe available since July 2016 and updated 2017??)
U.K.
https://www.epgonline.org/uk/drugs/fexeric/
Italy
https://www.epgonline.org/it/drugs/fexeric/
France
https://www.epgonline.org/fr/drugs/fexeric/
Spain
https://www.epgonline.org/es/drugs/fexeric/
Germany
https://www.epgonline.org/de/drugs/fexeric/
Netherland
https://www.epgonline.org/nl/drugs/fexeric/
Portugal
https://www.epgonline.org/pt/drugs/fexeric/
Sweden
https://www.epgonline.org/se/drugs/fexeric/
______________________________
Now, check this out.
SUKL is State Agency for Drug Control in Czech Republic. FEXERIC tablets - 1G Tablets, 200 count package?
http://www.sukl.eu/modules/medication/detail.php?kod=0186944
Slovakia
https://mediately.co/hr/drugs/GQK3wZIIi3HSswEEilNBGBbdxZ9/fexeric-1-g-filmom-oblozene-tablete
@AnfuhrerMitwut
Nasdaq Institutional Ownership at 12/31/2017..
At 12/31/2017, with 119 million shares outstanding, Keryx institutional ownership at 64%, more or less where they’ve been “holding it” for years until, imo, Jan. 2, 2018, that is, 1Q2018, when “power move” to gain controlling/majority ownership commenced, as follows imo.,
First you have some projected/estimated 16 million shares (maybe more if avg. below $4.75) from the additional $75 million prospectus supplement at an avg. of say $4.75 - AND whatever they can pick-up during 1Q2018 from additional selling while inching-up the pps little by little (it’s been inching-up for the last say 10 trading days to just a little past $5 ha ha ha). Let’s say for purposes of this excersise that 10 million additional shares it the objective. Soo, 16 million plus 10 million equals 26 million shares or 22% of 119 shares outstanding which, added to the 64% at 12/31/2017, equates to 86% institutional ownership of which the majority is between Baupost/Adams and a few more.
Now, remember from my previous post analyzing the Kerx Nasdaq 12/31/2017 quarterly institutional ownership report - 4Q2017 and pps “kidnapped” to the $4’s to concide with tax loss selling did not go without important changes. Remember that Abrams increased 4 million shares, State Street increased 2.2 million shares, Clearbridge increased 1.1 million shares, and between Blackrock, Vanguard (potential big discrepancy in the 3Q2017 figures vs 4Q2017 figures), Rice Hall and Ameriprise, another 1.2 million shares, total some 8.5 million shares or more.
In other words, imo, this is what’s been going on to gain controlling/majority ownership, 1) fleecing of retail/smaller indtitutional/funds, 2) placement of $75 million, 3) keep pps “hostage” at $4’s (now a lil above $5 ha ha) and by doing so continue the fleecing, the placement, AND keep funds which have a $5 threshold policy from buying.
Du mit mir, mein Freund, darum geht es, die pps "geiselhaft" zu halten.
All, in my opinion..
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Keryx Biopharmaceuticals is focused on the acquisition, development and commercialization of medically important pharmaceutical products for the treatment of life-threatening diseases, including cancer and renal disease. Keryx is developing KRX-0401 (perifosine), a novel, potentially first-in-class, oral anti-cancer agent that inhibits Akt activation in the phosphoinositide 3-kinase (PI3K) pathway, and also affects a number of other key signal transduction pathways, including the JNK pathway, all of which are pathways associated with programmed cell death, cell growth, cell differentiation and cell survival. KRX-0401 has demonstrated both safety and clinical efficacy in several tumor types, both as a single agent and in combination with novel therapies. KRX-0401 is currently in Phase 3 clinical development for both multiple myeloma and refractory advanced colorectal cancer, and in Phase 2 clinical development for several other tumor types. Each of the KRX-0401 Phase 3 programs are being conducted under Special Protocol Assessment (SPA) agreements with the FDA. Keryx is also developing ZerenexTM (ferric citrate), an oral, iron-based compound that has the capacity to bind to phosphate and form non-absorbable complexes. The Phase 3 clinical program of ZerenexTM in the treatment for hyperphosphatemia (elevated phosphate levels) in patients with end-stage renal disease is pending commencement under an SPA agreement with the FDA. Keryx also actively engages in business development activities that include seeking strategic relationships for its product candidates, as well as evaluating compounds and companies for in-licensing or acquisition.
Keryx is headquartered in New York City.
Keryx Biopharmaceuticals is traded on the Nasdaq Stock Market under the symbol "KERX."
Contact | |
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Investor Relations | IR@keryx.com |
Business Development | BusDev@keryx.com |
Clinical Trials | ClinicalTrials@keryx.com |
Employment Opportunities Company Website | jobs@keryx.com http://www.keryx.com/ |
Product candidate | Target indication | Development status |
---|---|---|
ZerenexTM (ferric citrate) | Hyperphosphatemia in patients with end-stage renal disease | U.S. Phase 3 program ongoing under SPA; Japan Phase 3 program ongoing by sublicensee (JT and Torii) |
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