Navigation Links
Keryx Biopharmaceuticals Receives Nasdaq Notification
Date:11/21/2008

NEW YORK, Nov. 21 /PRNewswire-FirstCall/ -- Keryx Biopharmaceuticals, Inc. (Nasdaq: KERX) today announced that on November 17, 2008, it received notice from The Nasdaq Stock Market ("Nasdaq") stating that the Company is no longer in compliance with 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.

In the letter, Nasdaq Staff requested that the Company provide, on or before December 2, 2008, a specific plan to achieve and sustain compliance with all of The Nasdaq Capital Market listing requirements, and the time frame required for completion of the plan. The Company is preparing its plan for submission to Nasdaq by the specified date.

If, after the conclusion of the review process, Nasdaq Staff determines that the Company has not presented an adequate plan to address the issues noted, the Nasdaq Staff will provide the Company with written notification that its securities will be delisted. The Company may then appeal the Nasdaq Staff's decision to a Nasdaq Listing Qualifications Panel.

The notification from Nasdaq has no effect at this time on the continued listing of Keryx Biopharmaceuticals' common stock on 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 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 the Company will submit a plan to achieve compliance with The Nasdaq Capital Market listing requirements that adequately addresses the issues noted by the Nasdaq staff, 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©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Keryx Biopharmaceuticals, Inc. Announces Third Quarter 2008 Financial Results
2. Keryx Biopharmaceuticals KRX-0401 (Perifosine) Data Selected for Oral Presentation at the 50th Annual Meeting of the American Society of Hematology
3. Keryx Biopharmaceuticals, Inc. to Hold Conference Call on Third Quarter 2008 Financial Results on Tuesday, November 11, at 8:30 A.M. EST
4. Keryx Biopharmaceuticals, Inc. Announces Second Quarter 2008 Financial Results
5. 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
6. Presentation Time Correction: Keryx Biopharmaceuticals Presents at 12:00pm, ET Tomorrow (Oct. 3) at William Blair & Company Small-Cap Growth Stock Conference
7. Morria Biopharmaceuticals Plc Announces Preliminary Results Regarding Inflammatory Markers From its Phase II Study in Allergic Rhinitis
8. XTL Biopharmaceuticals Announces Financial Results for the Year Ended December 31, 2007
9. Nabi Biopharmaceuticals Completes Sale of Nabi Biologics to Biotest AG
10. Nabi Biopharmaceuticals Announces Third Quarter 2007 Financial Results and Positive Vote from November 8, 2007 Special Stockholders Meeting
11. Kaiser Permanente Receives the Most Stars in California Office of Patient Advocates Annual Quality Report Card
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/28/2017)... ... June 28, 2017 , ... ... consultations to communities in northern Virginia and DC, is announcing a cooperative charity ... patients with Alzheimer’s and other disorders that lead to memory impairment. , The ...
(Date:6/27/2017)... ... June 27, 2017 , ... Harbour , a DAO (decentralized autonomous organization) ... blockchain, has released their technical specifications . , 2017 has seen an explosion ... approach for determining which offerings will garner the greatest ROI. Dean Eigenmann, Co-founder and ...
(Date:6/27/2017)... ... ... A January 18th article on medGadget reports that the worldwide ... year 2024 according to a new report. The article also notes that the newer ... Angeles area clinic Beverly Hills Periodontics & Dental Implant Center says that it is ...
(Date:6/27/2017)... CT (PRWEB) , ... June 27, 2017 , ... ... Alice P. Fabrykiewicz Scholarship Foundation Fundraiser hygiene symposium in Mystic, CT. Covering the ... and Urbanski offered their experience in these popular periodontal procedures. Drs. Toback and ...
(Date:6/27/2017)... ... 27, 2017 , ... East Los Angeles dentist, Ramin Assili DDS , ... What happens to a woman during pregnancy can have profound effects on a developing ... toll on a baby’s long-term health. This study, which was performed at the University ...
Breaking Medicine News(10 mins):
(Date:6/20/2017)... -- Hill-Rom Holdings, Inc. (NYSE: HRC), will host its fiscal third ... 28, 2017, beginning at 7:30 a.m. (CDT) / 8:30 a.m. ... participate in the conference call, dial (877) 304-8969 (domestic) or ... 10 minutes prior to the start to allow time to ... Webcast: A simultaneous webcast of the call ...
(Date:6/16/2017)... 2017 Datascope Corp. is voluntarily performing a worldwide field correction ... electrical test failure code.     ... PART NUMBER ... 0998-UC-0446HXX; 0998-UC-0479HXX 0998-00-3013-XX;  ... This field correction also applies ...
(Date:6/14/2017)...  ivWatch LLC, a medical device company focused on ... is pleased to announce it was the Bronze Winner ... and Equipment at the 2017 Medical Design Excellence Awards ... The award was presented by Medical Device and Diagnostics ... New York during MD&M East, ...
Breaking Medicine Technology: