UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 1)*
Keryx Biopharmaceuticals Inc.
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(Name of Issuer)
Common Stock, $0.001 Par Value Per Share
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(Title of Class of Securities)
492515101
---------
(CUSIP Number)
December 31, 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
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CUSIP No. 492515101 13G Page 2 of 13 Pages
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
S.A.C. Capital Advisors, LLC
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) /X/
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------- ----- ---------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES
BENEFICIALLY 0
OWNED ----- ---------------------------------------------------
BY 6 SHARED VOTING POWER
EACH
REPORTING 1,821,506* (see Item 4)
PERSON ----- ---------------------------------------------------
WITH 7 SOLE DISPOSITIVE POWER
0
----- ---------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,821,506* (see Item 4)
---------- --------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,821,506* (see Item 4)
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
|_|
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.6% (see Item 4)
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12 TYPE OF REPORTING PERSON*
00
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*SEE INSTRUCTION BEFORE FILLING OUT
Page 2 of 13
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CUSIP No. 492515101 13G Page 3 of 13 Pages
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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
-------------------- ------ ---------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES
BENEFICIALLY 0
OWNED ------ ---------------------------------------------------
BY 6 SHARED VOTING POWER
EACH
REPORTING 1,821,506* (see Item 4)
PERSON ------ ---------------------------------------------------
WITH 7 SOLE DISPOSITIVE POWER
0
------ ---------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,821,506* (see Item 4)
---------- --------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,821,506* (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)
5.6% (see Item 4)
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12 TYPE OF REPORTING PERSON*
00
---------- --------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
Page 3 of 13
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CUSIP No. 492515101 13G Page 4 of 13 Pages
---------------------- -----------------------
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
S.A.C. Capital Associates, LLC
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) /X/
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Anguilla, British West Indies
-------------------- ------ ---------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES
BENEFICIALLY 0
OWNED ------ ---------------------------------------------------
BY 6 SHARED VOTING POWER
EACH
REPORTING 1,245,000 (see Item 4)
PERSON ------ ---------------------------------------------------
WITH 7 SOLE DISPOSITIVE POWER
0
------ ---------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,245,000 (see Item 4)
---------- --------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,245,000 (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)
4.0% (see Item 4)
---------- --------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
00
---------- --------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
Page 4 of 13
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CUSIP No. 492515101 13G Page 5 of 13 Pages
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
S.A.C. Healthco Fund, LLC
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) /X/
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Anguilla, British West Indies
-------------------- ------ ---------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES
BENEFICIALLY 0
OWNED ------ ---------------------------------------------------
BY 6 SHARED VOTING POWER
EACH
REPORTING 514,588* (see Item 4)
PERSON ------ ---------------------------------------------------
WITH 7 SOLE DISPOSITIVE POWER
0
------ ---------------------------------------------------
8 SHARED DISPOSITIVE POWER
514,588* (see Item 4)
---------- --------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
514,588* (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)
1.6% (see Item 4)
---------- --------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
00
---------- --------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
Page 5 of 13
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CUSIP No. 492515101 13G Page 6 of 13 Pages
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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
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Anguilla, British West Indies
-------------------- ------ ---------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES
BENEFICIALLY 0
OWNED ------ ---------------------------------------------------
BY 6 SHARED VOTING POWER
EACH
REPORTING 61,800 (see Item 4)
PERSON ------ ---------------------------------------------------
WITH 7 SOLE DISPOSITIVE POWER
0
------ ---------------------------------------------------
8 SHARED DISPOSITIVE POWER
61,800 (see Item 4)
---------- --------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
61,800 (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 0.2% (see Item 4)
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12 TYPE OF REPORTING PERSON*
00
---------- --------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
Page 6 of 13
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CUSIP No. 492515101 13G Page 7 of 13 Pages
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Steven A. Cohen
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) /X/
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
-------------------- ------ ---------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES
BENEFICIALLY 0
OWNED ------ ---------------------------------------------------
BY 6 SHARED VOTING POWER
EACH
REPORTING 1,821,506* (see Item 4)
PERSON ------ ---------------------------------------------------
WITH 7 SOLE DISPOSITIVE POWER
0
------ ---------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,821,506* (see Item 4)
---------- --------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,821,506* (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)
5.6% (see Item 4)
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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 31,
2004:
1. S.A.C. Capital Advisors, LLC
(a) Amount beneficially owned: 1,821,506*
(b) Percent of class: 5.6%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 1,821,506*
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: 1,821,506*
2. S.A.C. Capital Management, LLC (a) Amount
beneficially owned: 1,821,506* (b) Percent
of class: 5.6% (c)(i) Sole power to vote or
direct the vote: -0- (ii) Shared power to
vote or direct the vote: 1,821,506* (iii)
Sole power to dispose or direct the
disposition: -0-
(iv) Shared power to dispose or direct the
disposition: 1,821,506*
Page 9 of 13
3. S.A.C. Capital Associates, LLC
(a) Amount beneficially owned: 1,245,000
(b) Percent of class: 4.0%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 1,245,000
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: 1,245,000
4. S.A.C. Healthco Fund, LLC
(a) Amount beneficially owned: 514,588*
(b) Percent of class: 1.6%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 514,588*
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: 514,588*
5. S.A.C. MultiQuant Fund, LLC
(a) Amount beneficially owned: 61,800
(b) Percent of class: Less than 0.2%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 61,800
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: 61,800
6. Steven A. Cohen
(a) Amount beneficially owned: 1,821,506*
(b) Percent of class: 5.6%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 1,821,506*
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: 1,821,506*
*The number of shares reported herein includes 94,118 shares
issuable upon exercise warrants held by SAC Healthco.
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, as amended, each of SAC Capital Advisors, SAC Capital
Management and Mr. Cohen may be deemed to own beneficially
1,821,506 Shares (constituting approximately 5.6% 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.
Page 10 of 13
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: February 14, 2005
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