Navigation Links
Keryx Biopharmaceuticals, Inc. Requests an Appeal Hearing After Receiving Notice of Delisting From Nasdaq
Date:3/9/2009

NEW YORK, March 9 /PRNewswire-FirstCall/ -- Keryx Biopharmaceuticals, Inc. (Nasdaq: KERX) today announced that it has requested a hearing to appeal to a Listings Qualification Panel ("Panel") the determination of The Nasdaq Stock Market to delist the Company's common stock from The Nasdaq Capital Market due to noncompliance with Nasdaq Marketplace Rule 4310(c)(3), 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. A hearing request by the Company automatically postpones the delisting of the Company's securities pending issuance of the Panel's decision. The Company expects to have a hearing date scheduled in the next 45 days.

The Staff of The Nasdaq Stock Market previously granted the Company a 105-day extension to regain compliance with Marketplace Rule 4310(c)(3). In an appeal, the Company will be asking that the Panel provide additional time to regain compliance with Nasdaq Marketplace Rule 4310(c)(3). There can be no assurance that such a request will be granted or that the Panel will permit the Company to continue to list its common stock on The Nasdaq Capital Market.

If the Company is delisted from The Nasdaq Capital Market, its common stock may be traded over-the-counter on the OTC Bulletin Board or in the "pink sheets." These alternative markets, however, are generally considered to be less efficient than the Nasdaq Capital Market. Many over-the-counter stocks trade less frequently and in smaller volumes than securities traded on the Nasdaq markets, which would likely have a material adverse effect on the liquidity and value of the Company's common stock.

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.

Cautionary Statement

Some of the statements included in this press release may be forward-looking statements that involve a number of risks and uncertainties. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Among the factors that could cause our actual results to differ materially are the following: There can be no assurance that the Company will satisfy Nasdaq's conditions for continued listing on The Nasdaq Capital Market, that any potential appeal or hearing for a stay of delisting from The Nasdaq Capital Market will be successful, or that the Company's common stock will remain listed on The Nasdaq Capital Market; that the Company will complete cost-effective clinical trials or meet as anticipated the development timelines for the drug candidates in its pipeline, including Zerenex and KRX-0401, to help generate greater interest in the market for its common stock; or that the Company's stock will not be affected by other risk factors identified from time to time in our reports filed with the Securities and Exchange Commission. Any forward-looking statements set forth in this press release speak only as of the date of this press release. We do not intend to update any of these forward-looking statements to reflect events or circumstances that occur after the date hereof. This press release and prior releases are available at http://www.keryx.com. The information in our website is not incorporated by reference into this press release and is included as an inactive textual reference only.

    KERYX CONTACT:
    Lauren Fischer
    Director - Investor Relations
    Keryx Biopharmaceuticals, Inc.
    Tel: 212.531.5965
    E-mail: lfischer@keryx.com 


'/>"/>
SOURCE Keryx Biopharmaceuticals, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Presentation Time Correction: Keryx Biopharmaceuticals Presents at 12:00pm, ET Tomorrow (Oct. 3) at William Blair & Company Small-Cap Growth Stock Conference
2. Keryx Biopharmaceuticals, Inc. Announces Poster Presentations Highlighting Observed Clinical Activity of KRX-0401 (Perifosine) to be Presented at the Upcoming American Society of Hematology Meeting in Atlanta, Georgia
3. Keryx Biopharmaceuticals, Inc. Announces Second Quarter 2008 Financial Results
4. Keryx Biopharmaceuticals, Inc. to Hold Conference Call on Third Quarter 2008 Financial Results on Tuesday, November 11, at 8:30 A.M. EST
5. Keryx Biopharmaceuticals KRX-0401 (Perifosine) Data Selected for Oral Presentation at the 50th Annual Meeting of the American Society of Hematology
6. Keryx Biopharmaceuticals, Inc. Announces Third Quarter 2008 Financial Results
7. Keryx Biopharmaceuticals Receives Nasdaq Notification
8. Johnson & Johnson Completes Tender Offer for Omrix Biopharmaceuticals, Inc.
9. FDA Struggles to Keep Pace With Requests for Generics
10. President Bush Requests Funding Cuts That Endanger Domestic Violence Victims
11. Maryland Stem Cell Commission Issues Requests for Applications
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/5/2016)... ... 2016 , ... If you don’t mind a bit of prickly therapy to ... to consider a treatment that some have called the next great tool in dermatology ... also known as skin needling, is a procedure using a device covered with tiny, ...
(Date:5/5/2016)... ... May 05, 2016 , ... MAP ... Platform, announced today that Enlightened Solutions has joined the Premier Outcomes-Driven Provider Network. ... care continuum for their patients being treated for substance use. , Enlightened Solutions ...
(Date:5/5/2016)... ... May 05, 2016 , ... Nepenthe Laboratory Services (NLS), a ... last week to raise non-perishable food item donations for Food for Lane County, and ... on NBC. , “The goal of the assembly was to create an exciting atmosphere ...
(Date:5/5/2016)... ... 2016 , ... In an effort to increase public awareness ... promotion and research organization, declared May as “National Sunshine Month.” , With ... cultural behavior over the past several decades, Americans spend more time indoors than ...
(Date:5/4/2016)... , ... May 04, 2016 , ... ProList is a ... Pro X . With ProList, editors can easily create lists for presentations, youtube ... create additional bullet points. ProList is the perfect complement to presentation style videos. ...
Breaking Medicine News(10 mins):
(Date:5/4/2016)... NEW YORK , May 4, 2016 ... Size, Share, Development, Growth and Demand Forecast to 2022 - ... End User (Hospital, Diagnostic Center and Others)" by P&S Market ... at $4,894.3 million in 2015, and it is expected to ... slice type, the high slice type segment is expected to ...
(Date:5/4/2016)... , May 4, 2016 ... concluded a series of free workshops across ... global requirements for Good Distribution Practices (GDP). ... which ensures that products are consistently stored, transported and ... authorization (MA) or product specification. Only a few years ...
(Date:5/4/2016)... May 4, 2016 ... the  "Global Multiple Myeloma Market and Competitive ... offering.       (Logo: http://photos.prnewswire.com/prnh/20160330/349511LOGO ... and Competitive Landscape Highlights 2016, provides comprehensive ... Myeloma epidemiology, Multiple Myeloma market valuations and ...
Breaking Medicine Technology: