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Keryx Biopharmaceuticals, Inc. Announces Third Quarter 2009 Financial Results
Date:11/9/2009

ent expenses related to the cessation of the development of Sulonex in March 2008, a $5.4 million decrease in research and development expenses related to KRX-0401 (perifosine), a $20.8 million increase in license revenue related to an amendment to the September 2007 sublicense agreement with Japan Tobacco Inc. and Torii Pharmaceutical Co., Ltd. (JT/Torii) which eliminated the Company's significant ongoing obligations included in the original agreement ($18.0 million) and a $3.0 million milestone payment from JT/Torii earned in the first quarter of 2009, and a $3.6 million increase in other revenue primarily related to the settlement of a dispute for $3.5 million (as discussed above).

Commenting on the quarter, Ron Bentsur, the Company's Chief Executive Officer, remarked, "Keryx has made substantial progress in the third quarter. Following our announcements of an SPA for the Phase 3 trial of perifosine in multiple myeloma, and exciting long-term safety and efficacy data for Zerenex, we solidified our balance sheet with a $20 million registered direct offering." Mr. Bentsur added, "We believe we now have sufficient capital to complete the Phase 3 programs for Perifosine and Zerenex, both of which are nearing commencement."

On Tuesday, November 10, 2009, at 8:30am EST, the Company will host an investor conference call during which they will provide a brief overview of the Company's third quarter financial results and a business outlook for the remainder of 2009.

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 m
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SOURCE Keryx Biopharmaceuticals, Inc.
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