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Keryx Biopharmaceuticals, Inc. Receives Extension for Nasdaq Listing Compliance
Date:6/9/2009

NEW YORK, June 9 /PRNewswire-FirstCall/ -- Keryx Biopharmaceuticals, Inc. (Nasdaq: KERX) today announced that on June 5, 2009, it received a letter from the NASDAQ Listing Qualifications Hearings Panel granting the Company an extension through August 31, 2009, to regain compliance with Nasdaq Listing Rule 5550(b), which requires the Company to have a minimum of $2,500,000 in stockholders' equity, or $35,000,000 market value of listed securities, or $500,000 of net income from continuing operations for the most recently completed fiscal year or two of the three most recently completed fiscal years, for continued listing on The Nasdaq Capital Market.

The Company expects to be able to comply with Nasdaq Listing Rule 5550(b) for continued listing on The Nasdaq Capital Market by August 31, 2009; however, there can be no assurance that the Company will be able to do so. Failure to comply with the conditions for listing could result in the delisting of the Company's common stock from The Nasdaq Capital Market.

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 has recently completed a Phase 2 clinical program as a treatment for 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 oth
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SOURCE Keryx Biopharmaceuticals, Inc.
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