Keryx Biopharm Q2 net loss 3.45 mln usd vs 3.23 mln

LONDON (AFX) - Keryx Biopharmceuticals Inc reported a net loss for the second quarter to June 30 2001 of 3.45 mln usd, or 17 cents per share, compared to a net loss of 3.23 mln usd or 40 cents per share.

However, net of non-cash compensation, the net loss increased by 1.62 mln usd.

At June 30 2001, Keryx had cash, cash equivalents, interest receivable and investments of 44.6 mln stg, down from 48.9 mln at Dec 31 2000.

CEO and chairman of the group, Morris Laster said, "increased manufacturing costs associated with the build up of clinical study supplies for KRX-101 contributed to increased expenses during the quarter."

KRX-101 is an in-licensed product that is in late-stage clinical development for the treatment of diabetic nephropathy.

Also during the quarter, Keryx said it focused on the pre-clinical advancement of KRX-123, for the treatment of hormone resistant prostate cancer and KRX-613/683, for the treatment of diabetes.

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