DALLAS, Dec. 3, 2009 (GLOBE NEWSWIRE) -- InvestorSoup.com announces an investment report featuring Keryx Biopharmaceuticals Inc. (Nasdaq:KERX). The report includes financial, comparative and investment analyses, and pertinent industry information you need to know to make an educated investment decision.
It is available at: http://www.investorsoup.com/lp/KERX
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Keryx Biopharmaceuticals Inc. (KERX) is a biopharmaceutical company focused on the acquisition, development, and commercialization of pharmaceutical products for the treatment of life-threatening including renal disease and cancer. The Company is developing Zerenex (ferric citrate), an oral, iron-based compound that has the capacity to bind to phosphate and form non-absorbable complexes. Zerenex is in phase II clinical development for the treatment of hyperphosphatemia (elevated phosphate levels) in patients with end stage renal disease (ESRD). KERX is developing KRX-0401 (perifosine), oral anti-cancer agent that modulates Akt, a protein in the body associated with tumor survival and growth. KRX-0401 is in phase II clinical development for multiple tumor types. KERX has strategic alliances with AEterna Zentaris Inc., Panion & BF Biotech Inc., Japan Tobacco Inc. and Torii Pharmaceutical Co. Ltd. for the manufacture and commercialization of its products.
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In the report, the analyst notes:
"The net income for the third quarter ended September 30, 2009, was $0.6 million, or $0.01 per diluted share, compared to a net loss of $6.8 million, or $0.15 per diluted share, for the third quarter in 2008. The change in net income (loss) was primarily attributable to the recognition of $3.5 million in other revenue, related to the settlement of a dispute with the former licensor of Sulonex (sulodexide), in July 2009, over issues arising from the terminated license agreement, a $1.4 million decrease in other selling, general and administrative expenses, and a $1.4 million decrease in non-cash compensation expense related to equity grants.
"KERX recently announced that the U.S. Food and Drug Administration (FDA) has granted Fast Track designation for KRX-0401 (perifosine), the Company's novel, potentially first-in-class, oral anti-cancer agent that inhibits the phosphoinositide 3-kinase (PI3K)/Akt pathway, for the treatment of relapsed/refractory multiple myeloma."
To read the entire report visit: http://www.investorsoup.com/lp/KERX
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