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Keryx Biopharmaceuticals, Inc. Announces Fourth Quarter and Year-End 2011 Financial Results
Date:2/29/2012

related to a milestone payment from the Company's Japanese partner for Zerenex (ferric citrate), Japan Tobacco Inc. and Torii Pharmaceutical Co., Ltd., for their commencement, in April 2011, of a Phase 3 clinical program in Japan.  The net loss for the year ended December 31, 2011, included $2.1 million of non-cash compensation expense related to equity incentive grants.

Ron Bentsur, the Company's Chief Executive Officer, commented, "During the fourth quarter of 2011, we remained focused on our three ongoing Phase 3 studies.  With the completion of our Perifosine Phase 3 study in metastatic colorectal cancer expected in March, we look forward to the top-line data release within several weeks thereafter.  With respect to Zerenex, we remain on track to complete our long-term Phase 3 study in the fourth quarter of 2012."  Mr. Bentsur added, "As we approach these important clinical data events, our financial position remains strong and we believe that we have sufficient capital to reach our key milestones."

The Company will host an investor conference call tomorrow, Thursday, March 1, 2012, at 8:30am EST, to discuss the Company's fourth quarter and year-end 2011 financial results and provide a business outlook for 2012.

In order to participate in the conference call, please call 1-877-869-3847 (U.S.), 1-201-689-8261 (outside the U.S.), call-in ID: KERYX. The audio recording of the conference call will be available for replay at http://www.keryx.com, for a period of 15 days after the call.

ABOUT KERYX BIOPHARMACEUTICALS, INC.Keryx Biopharmaceuticals is focused on the acquisition, development and commercialization of medically important pharmaceutical products for the treatment of cancer and renal disease. Keryx is developing KRX-0401 (perifosine), a novel, potentially first-in-class, oral anti-cancer agent that inhibits Akt activation in the phosphoinositide 3-kinase (PI3K) pathway, a
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SOURCE Keryx Biopharmaceuticals, Inc.
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