NEW YORK, Oct. 23 /PRNewswire-FirstCall/ -- Keryx Biopharmaceuticals, Inc. (Nasdaq: KERX) announced today that it has received notice from The Nasdaq Stock Market ("Nasdaq") stating that Nasdaq Marketplace Rule 4310(c)(4), which requires companies to maintain a minimum bid price of $1.00 per share, has been temporarily suspended. Based on this action, Nasdaq informed the Company that it now has until January 23, 2009, to achieve compliance with Rule 4310(c)(4).
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
tumor survival and growth. KRX-0401 also modulates a number of other key
signal transduction pathways, including the JNK and MAPK pathways, which
are pathways associated with programmed cell death, cell growth, cell
differentiation and cell survival. KRX-0401 is currently in Phase 2
clinical development for multiple tumor types. The Company also has an
in-licensing and acquisition program designed to identify and acquire
additional drug candidates. Keryx is headquartered in New York City.
|SOURCE Keryx Biopharmaceuticals, Inc.|
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