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Keryx Biopharmaceuticals, Inc. Announces Third Quarter 2007 Financial Results
Date:10/24/2007

et loss of $55,417,000, or $1.34 per share, for the comparable period in 2006, representing an increase in net loss of $5,384,000. The increase in net loss was primarily attributable to a $5,610,000 increase in research and development expenses related to the Company's Sulonex pivotal Phase III and Phase IV clinical program, a $3,834,000 increase in expenses related to the Company's other clinical compounds, a $1,085,000 decrease in interest and other income, and a $730,000 increase in other selling, general and administrative expenses, offset by a $5,944,000 decrease in non-cash compensation expense related to stock option and restricted stock grants.

Commenting on the quarter, Michael S. Weiss, Keryx's Chairman and Chief Executive Officer, said, "During the third quarter we were excited to announce a Zerenex licensing arrangement with Japan Tobacco and Torii Pharmaceutical Co., pursuant to which Japan Tobacco and Torii will seek to develop and commercialize Zerenex in Japan. In addition to bolstering our balance sheet, we believe this deal represents an early window into the value of our product portfolio. We continue to stay focused on completing the Sulonex clinical development program, with data from our Phase III study expected in the 1st quarter of 2008."

On Thursday, October 25, 2007, at 8:30am EDT, the Company will host an investor conference call during which they will provide a brief financial overview of the Company's third quarter financial results.

In order to participate in the conference call, please call 1-800-909-7113 (U.S.), 1-785-830-1914 (outside the U.S.), call-in ID: KERYX. The audio recording of the conference call will be available for replay at http://www.keryx.com, for a period of 15 days after the call.

ABOUT KERYX BIOPHARMACEUTICALS, INC.

Keryx Biopharmaceuticals, Inc. is focused on the acquisition, development and commercialization of medically important, nov
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SOURCE Keryx Biopharmaceuticals, Inc.
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