Keryx Biopharmaceuticals, Inc. Announces Fourth Quarter and Year-End 2007 Financi... ( Keryx to Host Investor Conference ...)

Keryx Biopharmaceuticals, Inc. Announces Fourth Quarter and Year-End 2007 Financial Results

Date:2/22/2008

Keryx to Host Investor Conference Call on Monday, February 25, 2008 at

8:30am EST

NEW YORK, Feb. 22 /PRNewswire-FirstCall/ -- Keryx Biopharmaceuticals, Inc. (Nasdaq: KERX), a biopharmaceutical company focused on the acquisition, development and commercialization of medically important, novel pharmaceutical products for the treatment of life-threatening diseases, including diabetes and cancer (the "Company"), today announced its results for the fourth quarter and year ended December 31, 2007.

At December 31, 2007, the Company had cash, cash equivalents, investment securities and interest receivable of $64.7 million, as compared to $125.6 million at December 31, 2006.

The net loss for the fourth quarter ended December 31, 2007 was $29,261,000, or $0.67 per share, compared to a net loss of $18,347,000, or $0.42 per share, for the comparable quarter in 2006, representing an increase in net loss of $10,914,000. The increase in net loss was primarily attributable to a $2,228,000 increase in research and development expenses related to the Company's Sulonex(TM) (sulodexide oral gelcap) pivotal Phase 3 and Phase 4 clinical program, a $4,372,000 increase in expenses related to KRX-0401, a $2,600,000 increase in expenses related to Zerenex, a $446,000 increase in expenses related to the Company's other clinical compounds and a $1,692,000 increase in non-cash compensation expense related to stock option and restricted stock grants.

The net loss for the year ended December 31, 2007 was $90,062,000, or $2.07 per share, compared to a net loss of $73,764,000, or $1.76 per share, for the year ended December 31, 2006, representing an increase in net loss of $16,298,000. The increase in net loss
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