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

n Board or in the "pink sheets." These alternative markets, however, are generally considered to be less efficient than the Nasdaq Capital Market. Many over-the-counter stocks trade less frequently and in smaller volumes than securities traded on the Nasdaq markets, which would likely have a material adverse effect on the liquidity and value of the Company's common stock.

The Company expects to announce its year-end 2008 earnings later this month, following completion of its audit. The Company anticipates it will report approximately $1.4 million of stockholders' deficiency, approximately $15.5 million of cash, cash equivalents and short-term investment securities, and approximately $5.2 million of accounts payable, accrued expenses, accrued compensation and related liabilities. In addition, the Company expects to report approximately $7.2 million of long-term investments in auction rate securities reported at fair value. The Company anticipates that its net loss for the fourth quarter and year ended December 31, 2008, will be approximately $4 million and $53 million, respectively. The Company expects its cash burn to be approximately $3 million per quarter during 2009.

About Keryx Biopharmaceuticals, Inc.

Keryx Biopharmaceuticals is focused on the acquisition, development and commercialization of medically important, novel pharmaceutical products for the treatment of life-threatening diseases, including renal disease and cancer. Keryx is developing Zerenex(TM) (ferric citrate), an oral, iron-based compound that has the capacity to bind to phosphate and form non-absorbable complexes. Zerenex is currently in Phase 2 clinical development for the treatment of hyperphosphatemia (elevated phosphate levels) in patients with end-stage renal disease. The Company is also developing KRX-0401 (perifosine), a novel, potentially first-in-class, oral anti-cancer agent that modulates Akt, a protein in the body associated with tu
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SOURCE Keryx Biopharmaceuticals, Inc.
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