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Spherix Announces 2008 Financial Results
Date:3/30/2009

BETHESDA, Md., March 30 /PRNewswire-FirstCall/ -- Spherix Incorporated (Nasdaq: SPEX), an innovator in biotechnology and a provider of technical and regulatory consulting services to food, supplement, biotechnology and pharmaceutical companies, today reported results for the year ended December 31, 2008.

Recent Company Highlights

  • Biospherics
    • Naturlose(R) Phase 3 clinical trial investigating efficacy as a treatment for Type 2 diabetes continues on schedule; completion expected in mid-2010
    • Interim data results expected in third quarter of 2009
    • Completion of the related Phase 2 Dose Range trial expected in 2009
    • Peer-reviewed publication of new results from animal studies

  • Spherix Consulting
    • Revenue from health sciences consulting services has grown every quarter since its start in July 2007
    • Additional consulting staff hired to handle increased demand

"The next few months will be an exciting time for Spherix and its shareholders," stated Dr. Claire L. Kruger, CEO of Spherix. "The Company anticipates sharing interim data in the fall from its ongoing Phase 3 clinical trial investigating the efficacy of Naturlose as a novel treatment for Type 2 diabetes. I am pleased to report that Spherix will be holding its first earnings webcast on April 2, during which we will provide our shareholders and other interested parties with additional information and updates on both the Biospherics and Spherix Consulting subsidiaries."

Financial Results for the Year Ended 2008


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