Keryx to Host Investor Conference Call on Thursday, October 25, 2007 at
NEW YORK, Oct. 24 /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, today announced its results for the third quarter ended September 30, 2007.
At September 30, 2007, the Company had cash, cash equivalents, investment securities, interest receivable and license receivable of $82.7 million, as compared to $125.6 million at December 31, 2006. The nonrefundable license receivable of $12.0 million was received in October 2007 and related to a recent licensing agreement entered into with Japan Tobacco Inc. and Torii Pharmaceutical Co., Ltd.
The net loss for the third quarter ended September 30, 2007 was $19,528,000, or $0.45 per share, compared to a net loss of $17,993,000, or $0.42 per share, for the comparable quarter in 2006, representing an increase in net loss of $1,535,000. The increase in net loss was primarily attributable to a $627,000 increase in research and development expenses related to the Company's Sulonex(TM) (sulodexide) pivotal Phase III and Phase IV clinical program, a $346,000 increase in expenses related to the Company's other clinical compounds, and a $845,000 decrease in interest and other income, offset by a $344,000 decrease in non-cash compensation expense related to stock option and restricted stock grants.
The net loss for the nine months ended September 30, 2007 was
$60,801,000, or $1.40 per share, compared to a n
|SOURCE Keryx Biopharmaceuticals, Inc.|
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