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Keryx Biopharmaceuticals, Inc. Announces Second Quarter 2011 Financial Results
Date:8/8/2011

9.2 million, or $0.16 per share, for the comparable period in 2010, representing an increase in net loss of $0.3 million.  The six months ended June 30, 2011 included the $5.0 million milestone payment discussed above. Other research and development expenses, for the six months ended June 30, 2011, increased by $5.2 million principally related to the KRX-0401 (perifosine) and Zerenex Phase 3 clinical programs.  The net loss for the six months ended June 30, 2011, included $1.1 million of non-cash compensation expense related to equity incentive grants.

Commenting on the quarter, Ron Bentsur, the Company's Chief Executive Officer, said, "During the quarter, we made significant progress in our Phase 3 programs.  With the announcement last week of completion of enrollment into our Perifosine Phase 3 program in advanced refractory colorectal cancer, we are only several months away from the completion of this important study.  On Zerenex, we were proud to have our Phase 3 short-term data presented in an oral presentation at the NKF annual meeting, as we continue to move forward with the long-term study."  Mr. Bentsur continued, "On the financial side, solidifying our balance sheet with the $33 million registered offering, we believe we are well capitalized to execute on our business plan."

The Company will host an investor conference call today, Monday, August 8, 2011, at 8:30am EDT, to discuss the Company's second quarter financial results and provide a business outlook for the remainder of 2011.

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 commerci
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