UPDATE: Keryx Biopharmaceuticals Posts Q4 Loss

reported a loss in the fourth quarter. The New York-based company reported a quarterly loss of $40.3 million, or $0.44 per share, versus a year-ago net loss of $17.7 million, or $0.21 per share. Its revenue came in at $569,000 in the quarter. However, analysts were estimating a loss of $0.37 per share on revenue of $1.23 million. Research and development expenses dropped to $5.8 million, from $10.5 million, while selling, general and administrative expenses climbed to $34.1 million from $7.3 million. Keryx Biopharmaceuticals ended the year with $85.8 million in cash, cash equivalents, interest receivable and investment securities, up from $55.7 million at December 31, 2013. Ron Bentsur, the Company's Chief Executive Officer, said, "I am very proud of the entire Keryx team and all that we have accomplished. Over the course of 2014, Keryx completed the transition from a development-stage company to a fully integrated commercial organization, culminating with the FDA approval and commercial launch of Auryxia(TM) (ferric citrate) in the United States." Keryx Biopharmaceuticals shares gained 1.10% to close at $11.93 yesterday.