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Spherix Announces 2010 Financial Results

BETHESDA, Md., March 30, 2011 /PRNewswire/ -- Spherix Incorporated (Nasdaq: SPEX) – an innovator in biotechnology for therapy in diabetes, metabolic syndrome and atherosclerosis and provider of technical and regulatory consulting services to food, supplement, biotechnology and pharmaceutical companies – today reported financial results for the year ended December 31, 2010.

Recent and Upcoming Highlights

  • Pharmaceutical Development
  • Announced the signing of a multi-unit research contract to investigate the role of D-tagatose in lowering triglycerides
  • Announced results from its first Phase 3 trial post hoc analysis for D-tagatose in the treatment of Type 2 diabetes
  • Seeking a strategic relationship with a pharmaceutical company for the continued clinical development of D-tagatose as a treatment for Type 2 diabetes and triglycerides
  • Raised $5.25 million in a registered direct offering of preferred stock and warrants
  • Raised $2.77 million in a registered direct offering of common stock and warrants
  • Recent and upcoming trade and professional shows:
  • Spherix's President, Dr. Robert Lodder, presented and participated at the Windhover Therapy Area Conference held November 3-4, 2010 in Boston
  • January 11, 2011: Dr. Lodder presented at OneMedForum SF 2011 and at Biotech Showcase 2011, both in San Francisco
  • February 15, 2011: Dr. Lodder presented at the 13th Annual BIO CEO & Investor Conference in New York; with Spherix's CEO, Dr. Claire Kruger, in attendance
  • March 31, 2011: Dr. Lodder will be presenting at the BIO-Windhover/Pharmaceutical Strategic Outlook 2011 Conference to be held in New York

  • Health Sciences Consulting
  • Recent and upcoming trade and professional shows:
  • October 23, 2010: Dr. Kruger presented "Stevia...The Science Behind the

  • SOURCE Spherix Incorporated
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