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Spherix Announces Second Quarter Financial Results
Date:8/12/2011

BETHESDA, Md., Aug. 12, 2011 /PRNewswire/ -- Spherix Incorporated (NASDAQ: SPEX) – an innovator in biotechnology for therapy in diabetes, metabolic syndrome and atherosclerosis, and providers of technical and regulatory consulting services to food, supplement, biotechnology and pharmaceutical companies – today reported financial results for the three and six months ended June 30, 2011.

Recent and Upcoming Highlights

  • Pharmaceutical Development
  • Announced the recently licensed compound, SPX10624258 (SPX106), significantly reduced serum triglycerides and cholesterol when administered in combination with D-tagatose for nine weeks to LDLr -/- mice compared with controls [triglycerides: -36% (p=0.01), cholesterol -19% (p=0.01)]
  • Continued research contracts to investigate the role of D-tagatose in lowering triglycerides
  • Continued preclinical testing of SPX106 in combination with D-tagatose for treatment of high triglycerides and cholesterol
  • Began preclinical testing of SPX106 alone as a treatment for high triglycerides, atherosclerosis and the metabolic syndrome
  • Seeking a strategic partner for the continued development of D-tagatose as a treatment for Type 2 diabetes

  • Health Sciences Consulting
  • Recent and upcoming trade and professional shows:
  • April 9, 2011: Dr. Claire Kruger, Spherix CEO, spoke at the American Dietetic Association's Nutrition News Forecast 2011 in Chicago
  • May 16, 2011: Spherix Consulting's Principal Advisor, Dr. A. Wallace Hayes, presented at the American College of Toxicology's Toxicology for Industrial and Regulatory Scientists Program in Falls Church, Va.; his presentation, "Basic Principles of Toxicology," was co-authored by Dr. Kruger
  • July 26-27, 2011: Dr. Kruger, Dr. Hayes and Dr. Nancy Booth, Spherix's Senior Scienc
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  • SOURCE Spherix Incorporated
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    1. Spherix Reports Second Quarter Earnings
    2. Growth Achieved in Spherixs Health Sciences Consulting Business
    3. Spherix D-tagatose to be Supplied by Inalco SpA
    4. Spherix Expands Phase 3 Naturlose Diabetes Trial Outside of the U.S.
    5. Spherix Postpones 2009 Annual Shareholders Meeting to Share Interim Diabetes Clinical Trial Data
    6. Spherix Elects New Independent Director, and Elects Chairman of the Board
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    10. Spherix to Present at Annual OneMedPlace Finance Forum and at EBD Biotech Showcase in San Francisco
    11. Spherix Reports Third Quarter 2009 Earnings
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