Baupost Group Files Amended 13D on Keryx Biopharmaceuticals

Seth Klarman's investment firm Baupost Group has filed an amended 13D with the SEC regarding shares of Keryx Biopharmaceuticals (KERX).  Per the filing, Baupost now has ownership of 42.53% of Keryx with over 59.21 million shares.

The filing was made due to activity on May 27th.  At the end of the first quarter, Baupost previously disclosed a position of only 25.79 million shares.

In the purpose of transaction section of the 13D, Baupost notes that:

"On May 27, 2016, the Issuer announced that at the Issuer’s Annual Meeting of Stockholders held on May 25, 2016 its stockholders approved an amendment to the Issuer’s Certificate of Incorporation to increase its authorized share capital by 50,000,000 shares of Common Stock. As a result of the increase in the authorized share capital, the Notes became convertible only into shares of the Issuer’s Common Stock. Based on the initial conversion rate, the $125 million aggregate principal amount of Notes is now convertible into 33,422,459 shares of Common Stock."

For more from this firm, we've highlighted previous Baupost Group portfolio activity here.

Per Google Finance, Keryx Biopharmaceuticals "is a biopharmaceutical company. The Company is focused on the development of products for the treatment of renal diseases. The Company's product Auryxia (ferric citrate), also known as Riona in Japan and Fexeric in Europe, is an oral, absorbable iron-based compound, which is indicated for the control of serum phosphorus levels in patients with chronic kidney disease (CKD), on dialysis. The Company operates through the products segment. Auryxia can bind to phosphate in the gastrointestinal tract and form non-absorbable complexes to reduce intestinal absorption and aid in the management of hyperphosphatemia in patients with CKD. The adverse events for Auryxia treated patients were gastrointestinal-related, including diarrhea, nausea, constipation, vomiting and cough. The Company focuses on Keryx Patient Plus program to assist with patient accessibility to Auryxia. ."

Baupost Group Boosts Keryx Biopharmaceuticals Stake

Seth Klarman's investment firm Baupost Group has filed an amended 13G regarding their position in Keryx Biopharmaceuticals (KERX).  Per the filing, Baupost now owns 19.93% of the company with 18.3 million shares.

They've boosted their position size by over 7.76 million shares since the end of the second quarter.  The filing was required due to portfolio activity on September 30th.

You can view other portfolio activity from Baupost here.

Per Google Finance, Keryx Biopharmaceuticals "is focused on the acquisition, development, and commercialization of pharmaceutical products for the treatment of renal disease. The Company is developing KRX-0502, an investigational, ferric citrate, oral compound that binds to phosphate. Under the name Zerenex, KRX-0502 has completed a United States-based Phase III clinical program for the treatment of hyperphosphatemia in patients with chronic kidney disease (CKD) on dialysis."