Navigation Links
Keryx Biopharmaceuticals, Inc. Requests an Appeal Hearing After Receiving Notice of Delisting From Nasdaq

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 The information in our website is not incorporated by reference into this press release and is included as an inactive textual reference only.

    Lauren Fischer
    Director - Investor Relations
    Keryx Biopharmaceuticals, Inc.
    Tel: 212.531.5965

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:
(Date:11/27/2015)... ... November 27, 2015 , ... According to an ... 2015 American Dental Association meeting in Washington D.C. revolved around the fact that proper ... overall health. The talk stressed the link between periodontal disease (more commonly referred to ...
(Date:11/27/2015)... ... November 27, 2015 , ... An inventor, from Hopkinsville, Ky., ... medications at home, so he invented the patent-pending ELECTRONIC M.D. , The ELECTRONIC ... In doing so, it could help to prevent potential overdose situations. As a ...
(Date:11/27/2015)... ... 2015 , ... MPWH, the No.1 Herpes-only dating community in the world, revealed that over 50% ... More than 3.7 billion people under the age of 50 – or 67% of the ... first global estimates of HSV-1 infection . , "The data shocks us highly!" said ...
(Date:11/27/2015)... Bangalore, Karnataka (PRWEB) , ... November 27, 2015 ... ... the world, Health-E-minds, an innovative online platform for mental health and wellness consultation, ... KleverKid. , This partnership will bridge the knowledge gap experienced by parents and ...
(Date:11/27/2015)... (PRWEB) , ... November 27, 2015 , ... ... contact center software Q-Suite, announces the incorporation of Asterisk 11 LTS (Long Term ... fully supported Asterisk 11 LTS brings Q-Suite 5.10 up-to-date with a version of ...
Breaking Medicine News(10 mins):
(Date:11/26/2015)... , Nov. 26, 2015 Research ... addition of the "2016 Future Horizons and ... (TDM) Market: Supplier Shares, Country Segment Forecasts, Competitive ... --> --> ... analysis of the Italian therapeutic drug monitoring market, ...
(Date:11/25/2015)... Nov. 25, 2015  Amgen (NASDAQ: AMGN ) ... (BLA) with the United States ... a biosimilar candidate to Humira ® (adalimumab). Amgen ... submitted to the FDA and represents Amgen,s first BLA ... E. Harper , M.D., executive vice president of Research ...
(Date:11/25/2015)...  ARKRAY USA , Inc., a ... demonstrating the accuracy of its blood glucose meter systems. ... Diabetes and Cardiovascular Disease in Los Angeles ... ® 01 meter and the Assure ® ... to accurately measure glucose levels in blood is essential ...
Breaking Medicine Technology: