Nov. 2, 2012 (Shareholders Foundation) -- An investigation on behalf of investors of Keryx Biopharmaceuticals (NASDAQ:KERX) shares over potential securities laws violations by Keryx Biopharmaceuticals and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Keryx Biopharmaceuticals (NASDAQ:KERX) concerning whether a series of statements by Keryx Biopharmaceuticals regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Shares of Keryx Biopharmaceuticals (NASDAQ:KERX) grew from as low as $0.124 per share in March 2009 to as high as $5.69 per share in May 2010.

On April 2, 2012, before the market opened, Keryx Biopharmaceuticals, Inc. (NASDAQ: KERX) reported that the Phase 3 'X-PECT' clinical trial evaluating perifosine (KRX-0401) + capecitabine (Xeloda) in patients with refractory advanced colorectal cancer did not meet the primary endpoint of improving overall survival versus capecitabine + placebo.

Shares of Keryx Biopharmaceuticals (NASDAQ:KERX) dropped from $4.98 per share on Friday, March 30, 2012, to $1.74 per share on Monday, April 2, 2012 and continued to decline to as low as $1.28 per share on April 18, 2012.

On November 2, 2012, NASDAQ:KERX shares closed at $2.36 per share, less than half its current 52 week High.