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Spherix Announces Second Quarter 2010 Financial Results
Date:8/17/2010

BETHESDA, Md., Aug. 17 /PRNewswire-FirstCall/ -- Spherix Incorporated (Nasdaq: SPEX), an innovator in biotechnology for therapy in diabetes and the metabolic syndrome, and a provider of technical and regulatory consulting services to food, supplement, biotechnology and pharmaceutical companies, today reported results for the three months ended June 30, 2010.

Recent and Upcoming Highlights

  • Pharmaceutical Development
  • Announced exploration of D-tagatose as a potential treatment for high triglycerides, a risk factor for atherosclerosis, myocardial infraction, and stroke
  • Acquired development and marketing rights for D-tagatose for triglycerides from the University of Kentucky Research Foundation
  • Goal of the triglycerides program is to develop a formulation, dose and dosing regimen appropriate for the lipid market segment
  • Anticipate a robust proof of concept in a Phase 2 clinical study and then seek a pharma partner for further development of the triglycerides drug product
  • Announce efficacy results of the Phase 3 trial for the treatment of Type 2 diabetes by mid-September 2010 and anticipated completion of the Phase 2 Dose Range trial by the end of 2010
  • Actively seeking a strategic relationship with a pharma company for the continued development of D-tagatose as a treatment for Type 2 diabetes
  • Conducted additional rounds of Medical Advisory Board meetings to provide clinical guidance for the development program for D-tagatose as a treatment for Type 2 diabetes and potential as a triglyceride therapy

  • Health Sciences Consulting
  • Recent and upcoming trade and professional shows:
  • 9th Vahouny Fiber Symposium, June 9, 2010, Bethesda, MD
  • ENDO Society Annual Meeting, June 19-22, San Diego, CA
  • American Diabetes Association Annual Meeting, June 2010, Orlando, FL

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