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Keryx Biopharmaceuticals Inc. Announces Receipt of Nasdaq Delisting Notification
Date:3/5/2009

Unless appealed, delisting scheduled for March 12, 2009

NEW YORK, March 5 /PRNewswire-FirstCall/ -- Keryx Biopharmaceuticals, Inc. (Nasdaq: KERX) today announced that it received a letter from the Staff of The Nasdaq Stock Market indicating that the Company had failed to regain compliance with Nasdaq Marketplace Rule 4310(c)(3), which requires the Company to have a minimum of $2,500,000 in stockholders' equity, or $35,000,000 market value of listed securities, or $500,000 of net income from continuing operations for the most recently completed fiscal year or two of the three most recently completed fiscal years, for continued listing on The Nasdaq Capital Market. The Staff has therefore determined to delist the Company's common stock from The Nasdaq Capital Market effective at the opening of business on March 12, 2009.

The Company is currently evaluating whether to appeal the Staff's determination to a hearing before a Nasdaq Listing Qualifications Panel, which request would stay the delisting of the Company's securities pending the Panel's decision. The Company must make an appeal request by 4:00 pm (EST) on March 10, 2009. If the Company decides to appeal, the Company would expect the hearing to be scheduled for April 2009. The Staff previously granted the Company a 105-day extension to regain compliance with Marketplace Rule 4310(c)(3). If the Company decides to move forward with an appeal, it would be asking that the Panel provide additional time to regain compliance with Nasdaq Marketplace Rule 4310(c)(3). There can be no assurance that such a request will be granted or that the Panel will permit the Company to continue to list its common stock on The Nasdaq Capital Market.

If the Company is delisted from The Nasdaq Capital Market, its common stock may be traded over-the-counter on the OTC Bulleti
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SOURCE Keryx Biopharmaceuticals, Inc.
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