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Spherix Announces Third Quarter 2010 Financial Results
Date:11/15/2010

BETHESDA, Md., Nov. 15, 2010 /PRNewswire-FirstCall/ -- Spherix Incorporated (Nasdaq: SPEX), an innovator in biotechnology for therapy in diabetes and the metabolic syndrome, and a provider of technical and regulatory consulting services to food, supplement, biotechnology and pharmaceutical companies, today reported results for the three months ended September 30, 2010.

Recent and Upcoming Highlights

  • Pharmaceutical Development
  • Announced exploration of D-tagatose as a treatment for high triglycerides, a risk factor for atherosclerosis, myocardial infraction, and stroke
  • Acquired development and marketing rights for D-tagatose for triglycerides from the University of Kentucky Research Foundation
  • Goal of the triglycerides program is to explore drug mechanism of action, investigate proof of concept and analyze the formulation, dose and dosing regimen appropriate for the triglyceride market segment
  • Announced efficacy results of the Phase 3 trial for the treatment of Type 2 diabetes in October 2010 which showed a statistically significant drop in HbA1c levels in mild diabetics
  • Anticipated completion of the Phase 2 Dose Range trial by the end of 2010
  • Seeking a strategic relationship with a pharmaceutical company for the continued development of D-tagatose as a treatment for Type 2 diabetes and triglycerides
  • Presented and participated at two pharma partnering meetings:  BioPartnering Europe, October 11-13, 2010, London UK; and Windhover Therapy Area Conference, November 3-4, 2010, Boston, MA
  • Awarded $469,479 under the Patient Protection and Affordable Care Act

  • Health Sciences Consulting
  • Recent and upcoming trade and professional shows:
  • Presented at 9th Vahouny Fiber Symposium, June 9, 2010, Bethesda, MD
  • Attended American Society of Pharmacognosy, Phytochemical
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    Related medicine technology :

    1. Spherix Awarded Grant from U.S. Government Under the Patient Protection and Affordable Care Act
    2. Spherix Announces Institutional Investors Purchase $5.25 Million of Convertible Preferred Stock and Warrants
    3. Spherix Completes Enrollment in NEET, a Phase 3 Clinical Trial Evaluating an Oral Drug for Type 2 Diabetes
    4. Spherix to Present at Annual OneMedPlace Finance Forum and at EBD Biotech Showcase in San Francisco
    5. Spherix Reports Third Quarter 2009 Earnings
    6. Spherix Announces Positive Phase 2 Study Results
    7. Spherix Reports First Quarter 2009 Earnings
    8. Spherix Elects New Independent Director, and Elects Chairman of the Board
    9. Spherix Postpones 2009 Annual Shareholders Meeting to Share Interim Diabetes Clinical Trial Data
    10. Spherix Expands Phase 3 Naturlose Diabetes Trial Outside of the U.S.
    11. Spherix D-tagatose to be Supplied by Inalco SpA
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