Spherix Reports First Quarter 200... ( BETHESDA Md. May 14 /- Spherix Incorp...)

Spherix Reports First Quarter 2009 Earnings

Date:5/14/2009

BETHESDA, Md., May 14 /PRNewswire-FirstCall/ -- Spherix Incorporated (Nasdaq: SPEX), an innovator in biotechnology for diabetes therapy, and a provider of technical and regulatory consulting services to food, supplement, biotechnology and pharmaceutical companies, today reported results for the first quarter ended March 31, 2009.

Recent Company Highlights

Biospherics
- Created a wholly owned subsidiary, Biospherics Incorporated, for the Company's biotech segment.
- Naturlose(R) Phase 3 clinical trial investigating efficacy as a treatment for Type 2 diabetes ongoing:
  - Interim data results expected in third quarter of 2009
  - Completion of the related Phase 2 Dose Range trial expected in early 2010
  - Trial completion expected in mid- to late-2010
- Trade shows/investor conferences:
  - Ohio Valley Affiliates for Life Science, Dayton, OH, April 2-3
  - BIO International Convention, Atlanta, GA, May 18-21
  - Rodman & Renshaw 11th Annual Health Conference, New York, NY, Sept. 9-11

Spherix Consulting
- Created a wholly owned subsidiary, Spherix Consulting, Inc., for the Company's health sciences segment.
- Strong growth from health sciences consulting services.
- Trade shows Spherix Consulting has and will be attending:
  - Society of Toxicology 48th Annual Meeting, Baltimore, MD, March 15-19
  - Institute of Food Technologists Annual Meeting and Food Exp
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