UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
Keryx Biopharmaceuticals Inc.
--------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $0.001 Par Value Per Share
--------------------------------------------------------------------------------
(Title of Class of Securities)
492515101
---------
(CUSIP Number)
December 28, 2004
-----------------
(Date of Event which Requires Filing
of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
Page 1 of 13
------------------- ------------------
CUSIP No. 492515101 13G Page 2 of 13 Pages
------------------- ------------------
---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
S.A.C. Capital Advisors, LLC
---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
---------- ---------------------------------------------------------------------
3 SEC USE ONLY
---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------- ----- ----------------------------------------------------
5 SOLE VOTING POWER
0
----- ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 1,790,106 (includes 94,118 Shares issuable upon
OWNED exercise of warrants) (see Item 4)
BY ----- ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ----- ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,790,106 (includes 94,118 Shares issuable upon
exercise of warrants) (see Item 4)
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,790,106 (includes 94,118 Shares issuable upon exercise of warrants)
(see Item 4)
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.7% (see Item 4)
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
00
---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
Page 2 of 13
------------------- ------------------
CUSIP No. 492515101 13G Page 3 of 13 Pages
------------------- ------------------
---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
S.A.C. Capital Management, LLC
---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
---------- ---------------------------------------------------------------------
3 SEC USE ONLY
---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------- ----- ----------------------------------------------------
5 SOLE VOTING POWER
0
----- ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 1,790,106 (includes 94,118 Shares issuable upon
OWNED exercise of warrants) (see Item 4)
BY ----- ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ----- ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,790,106 (includes 94,118 Shares issuable upon
exercise of warrants) (see Item 4)
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,790,106 (includes 94,118 Shares issuable upon exercise of warrants)
(see Item 4)
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.7% (see Item 4)
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
00
---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
Page 3 of 13
------------------- ------------------
CUSIP No. 492515101 13G Page 4 of 13 Pages
------------------- ------------------
---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
S.A.C. Capital Associates, LLC
---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
---------- ---------------------------------------------------------------------
3 SEC USE ONLY
---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Anguilla, British West Indies
-------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
0
------ ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 920,000 (see Item 4)
OWNED ------ ----------------------------------------------------
BY 7 SOLE DISPOSITIVE POWER
EACH
REPORTING 0
PERSON ------ ----------------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
920,000 (see Item 4)
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
920,000 (see Item 4)
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.0% (see Item 4)
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
00
---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
Page 4 of 13
------------------- ------------------
CUSIP No. 492515101 13G Page 5 of 13 Pages
------------------- ------------------
---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
S.A.C. Healthco Fund, LLC
---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
---------- ---------------------------------------------------------------------
3 SEC USE ONLY
---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Anguilla, British West Indies
-------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
0
------ ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 814,706 (includes 94,118 Shares issuable upon
OWNED exercise of warrants) (see Item 4)
BY ------ ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
814,706 (includes 94,118 Shares issuable upon
exercise of warrants) (see Item 4)
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
814,706 (includes 94,118 Shares issuable upon exercise of warrants)
(see Item 4)
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
2.6% (see Item 4)
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
00
---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
Page 5 of 13
------------------- ------------------
CUSIP No. 492515101 13G Page 6 of 13 Pages
------------------- ------------------
---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
S.A.C. MultiQuant Fund, LLC
---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
---------- ---------------------------------------------------------------------
3 SEC USE ONLY
---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Anguilla, British West Indies
-------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF ------ ----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED 55,400 (see Item 4)
BY ------ ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
55,400 (see Item 4)
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
55,400 (see Item 4)
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
Less than 0.1% (see Item 4)
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
00
---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
Page 6 of 13
------------------- ------------------
CUSIP No. 492515101 13G Page 7 of 13 Pages
------------------- ------------------
---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Steven A. Cohen
---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
---------- ---------------------------------------------------------------------
3 SEC USE ONLY
---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------- ----- ----------------------------------------------------
5 SOLE VOTING POWER
0
----- ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 1,790,106 (includes 94,118 Shares issuable upon
OWNED exercise of warrants) (see Item 4)
BY ----- ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ----- ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,790,106 (includes 94,118 Shares issuable upon
exercise of warrants) (see Item 4)
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,790,106 (includes 94,118 Shares issuable upon exercise of warrants)
(see Item 4)
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.7% (see Item 4)
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
Page 7 of 13
Item 1(a) Name of Issuer:
---------------
Keryx Biopharmaceuticals Inc.
Item 1(b) Address of Issuer's Principal Executive Offices:
------------------------------------------------
750 Lexington Avenue
New York, New York 10022
Items 2(a) Name of Person Filing:
This statement is filed by: (i) S.A.C. Capital Advisors,
LLC, ("SAC Capital Advisors") with respect to Shares
beneficially owned by S.A.C. Capital Associates, LLC ("SAC
Capital Associates"), S.A.C. Healthco Fund, LLC ("SAC
Healthco") and S.A.C. MultiQuant Fund, LLC ("SAC
MultiQuant"); (ii) S.A.C. Capital Management, LLC, ("SAC
Capital Management") with respect to Shares beneficially
owned by SAC Capital Associates, SAC Healthco and SAC
MultiQuant; (iii) SAC Capital Associates with respect to
Shares beneficially owned by it; (iv) SAC Healthco with
respect to Shares beneficially owned by it; (v) SAC
MultiQuant with respect to Shares beneficially owned by it;
(vi) Steven A. Cohen with respect to Shares beneficially
owned by SAC Capital Advisors, SAC Capital Management, SAC
Capital Associates, SAC Healthco and SAC MultiQuant.
Item 2(b) Address of Principal Business Office:
-------------------------------------
The address of the principal business office of (i) SAC
Capital Advisors and Mr. Cohen is 72 Cummings Point Road,
Stamford, Connecticut 06902, (ii) SAC Capital Management is
540 Madison Avenue, New York, New York 10022, and (iii) SAC
Capital Associates, SAC Healthco and SAC MultiQuant is P.O.
Box 58, Victoria House, The Valley, Anguilla, British West
Indies.
Item 2(c) Citizenship:
------------
SAC Capital Advisors and SAC Capital Management are Delaware
limited liability companies. SAC Capital Associates, SAC
Healthco and SAC MultiQuant are Anguillan limited liability
companies. Mr. Cohen is a United States citizen.
Page 8 of 13
Item 2(d) Title of Class of Securities:
-----------------------------
Common Stock, par value $0.001 per share
Item 2(e) CUSIP Number:
-------------
492515101
Item 3 Not Applicable
Item 4 Ownership:
----------
The percentages used herein are calculated based upon the
Shares issued and outstanding as of November 5, 2004 as
reported on the Company's quarterly report on Form 10-Q
filed with the Securities and Exchange Commission by the
Issuer for the quarterly period ended September 30, 2004.
As of the close of business on December 29, 2004:
1. S.A.C. Capital Advisors, LLC
(a) Amount beneficially owned: 1,790,106
(includes 94,118 Shares issuable upon
exercise of warrants)
(b) Percent of class: 5.7%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 1,790,106
(includes 94,118 Shares issuable upon exercise of warrants)
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
1,790,106 (includes 94,118 Shares issuable upon exercise of
warrants)
2. S.A.C. Capital Management, LLC
(a) Amount beneficially owned: 1,790,106 (includes 94,118
Shares issuable upon exercise of warrants)
(b) Percent of class: 5.7%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 1,790,106
(includes 94,118 Shares issuable upon exercise of warrants)
(iii) Sole power to dispose or direct the
disposition: -0-
(iv) Shared power to dispose or direct the disposition:
1,790,106 (includes 94,118 Shares issuable upon exercise of
warrants)
Page 9 of 13
3. S.A.C. Capital Associates, LLC
(a) Amount beneficially owned: 920,000
(b) Percent of class: 3.0%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 920,000
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
920,000
4. S.A.C. Healthco Fund, LLC
(a) Amount beneficially owned: 814,706 (includes 94,118
Shares issuable upon exercise of warrants)
(b) Percent of class: 2.6%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 814,706
(includes 94,118 Shares issuable upon exercise of warrants)
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
814,706 (includes 94,118 Shares issuable upon exercise of
warrants)
5. S.A.C. MultiQuant Fund, LLC
(a) Amount beneficially owned: 55,400
(b) Percent of class: Less than 0.1%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 55,400
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
55,400
6. Steven A. Cohen
(a) Amount beneficially owned: 1,790,106 (includes 94,118
Shares issuable upon exercise of warrants)
(b) Percent of class: 5.7%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 1,790,106
(includes 94,118 Shares issuable upon exercise of warrants)
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
1,790,106 (includes 94,118 Shares issuable upon exercise of
warrants)
SAC Capital Advisors, SAC Capital Management, and Mr. Cohen
own directly no shares of Common Stock. Pursuant to
investment agreements, each of SAC Capital Advisors and SAC
Capital Management share all investment and voting power
with respect to the securities held by SAC Capital
Associates, SAC Healthco and SAC MultiQuant. Mr. Cohen
controls each of SAC Capital Advisors and SAC Capital
Management. By reason of the provisions of Rule 13d-3 of the
Securities Exchange Act of 1934,
Page 10 of 13
as amended, each of SAC Capital Advisors, SAC Capital
Management and Mr. Cohen may be deemed to own beneficially
1,790,106 Shares (includes 94,118 Shares issuable upon
exercise of warrants) (constituting approximately 5.7% of
the Shares outstanding). Each of SAC Capital Advisors, SAC
Capital Management, and Mr. Cohen disclaim beneficial
ownership of any of the securities covered by this
statement.
Item 5 Ownership of Five Percent or Less of a Class:
---------------------------------------------
If this statement is being filed to report the fact that as
of the date hereof the reporting person has ceased to be the
beneficial owner of more than five percent of the class of
securities, check the following. [ ]
Item 6 Ownership of More than Five Percent on Behalf of Another
--------------------------------------------------------
Person:
-------
Not Applicable
Item 7 Identification and Classification of the Subsidiary Which
---------------------------------------------------------
Acquired the Security Being Reported on By the Parent
-----------------------------------------------------
Holding Company:
----------------
Not Applicable
Item 8 Identification and Classification of Members
--------------------------------------------
of the Group:
-------------
Not Applicable
Item 9 Notice of Dissolution of Group:
-------------------------------
Not Applicable
Item 10 Certification:
--------------
By signing below the signatory certifies that, to the best of his knowledge
and belief, the securities referred to above were not acquired and are not held
for the purpose of or with the effect of changing or influencing the control of
the issuer of the securities and were not acquired and are not held in
connection with or as a participant in any transaction having that purpose or
effect.
Page 11 of 13
SIGNATURE
---------
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Dated: December 30, 2004
S.A.C. CAPITAL ADVISORS, LLC
By: /s/ Peter Nussbaum
------------------------------
Name: Peter Nussbaum
Title: Authorized Person
S.A.C. CAPITAL MANAGEMENT, LLC
By: /s/ Peter Nussbaum
------------------------------
Name: Peter Nussbaum
Title: Authorized Person
S.A.C. CAPITAL ASSOCIATES, LLC
By: /s/ Peter Nussbaum
------------------------------
Name: Peter Nussbaum
Title: Authorized Person
S.A.C. HEALTHCO FUND, LLC
By: /s/ Peter Nussbaum
------------------------------
Name: Peter Nussbaum
Title: Authorized Person
Page 12 of 13
S.A.C. MULTIQUANT FUND, LLC
By: /s/ Peter Nussbaum
------------------------------
Name: Peter Nussbaum
Title: Authorized Person
STEVEN A. COHEN
By: /s/ Peter Nussbaum
------------------------------
Name: Peter Nussbaum
Title: Authorized Person
Page 13 of 13