|KERYX BIOPHARMACEUTICALS INC filed this Form 424B5 on 07/27/2017|
We may issue and sell shares of our common stock having aggregate gross sales proceeds of up to $75,000,000 from time to time under this prospectus supplement and the accompanying prospectus. Because there is no minimum offering amount required pursuant to the sales agreement with Cantor Fitzgerald & Co., the actual total public offering amount, commissions and proceeds to us, if any, are not determinable at this time. Actual net proceeds will depend on the number of shares we sell and the prices at which such sales occur. There can be no assurance that we will sell any shares under or fully utilize the sales agreement with Cantor Fitzgerald & Co. as a source of financing.
We intend to use the net proceeds, if any, from sales of shares of our common stock covered by this prospectus supplement and the accompanying prospectus for working capital and general corporate purposes, which may include, among other things, the funding of capital and other expenditures, including to expand our manufacturing capabilities, and the acquisition or in-license of additional drugs, product candidates or technology.
Our expected use of net proceeds, if any, from the sale of shares of common stock pursuant to the sales agreement with Cantor Fitzgerald & Co. represents our intentions based upon our present plans and business conditions as of the date of this prospectus supplement, which could change in the future as our plans and business conditions evolve. The amount and timing of our actual expenditures will depend upon numerous factors, including, but not limited to, the adoption rate of Auryxia in patients with CKD on dialysis and any other indication for which we may obtain regulatory approvals, the timing and outcome of the commercialization of Auryxia in the European Union, the ability of our Japanese partner to successfully market Riona in Japan, results of our research and development efforts, the timing and success of preclinical studies, our ongoing clinical studies or clinical studies we may commence in the future, the timing of regulatory submissions and the feedback from regulatory authorities, including with respect to our sNDA submission to the FDA with respect to ferric citrate for the treatment of IDA in adults with stage 3-5 NDD-CKD and the terms of our agreements with third-party suppliers of our active pharmaceutical ingredients and finished drug product. As a result, our management will have broad discretion over the use of the net proceeds from this offering, if any. We may temporarily invest the net proceeds in investment-grade, interest-bearing securities pending their use for the purposes described above. We have not determined the amount of net proceeds to be used specifically for such purposes and, as a result, management will retain broad discretion over the allocation of net proceeds, if any.