Spherix Inc. - Conference Presentation Calls

Spherix Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. Revenue was $378,000 for the quarter ended September 30, 2009, up from $308,000 in 2008 for the same period. The Company's revenue improvement reflects the growth of its health sciences consulting services. The net loss for the quarter ended September 30, 2009 was $2.2 million or $0.15 per share, compared with a net loss of $1.7 million or $0.12 per share for the same period in 2008. The company reported net loss of $2.152 million or $0.15 per basic and diluted share compared to net loss of $1.735 million or $0.12 per basic and diluted share for the same period of last year. The company reported loss before income tax of $2.152 million and loss from operations of $2.157 million compared to loss before income tax of $1.735 million and loss from operations of $1.795 million for the same period of last year. For the nine months, the company reported net loss of $5.772 million or $0.40 per basic and diluted share on revenues of $1.071 million compared to net loss of $4.847 million or $0.34 per basic and diluted share on revenues of $713,773 for the same period of last year. The company reported loss before income tax of $5.772 million and loss from operations of $5.808 million compared to loss before income tax of $4.847 million and loss from operations of $5.133 million for the same period of last year.

Spherix Inc. announced positive interim Phase 3 clinical results for the planned review of the NEET (Naturlose (D-tagatose) Efficacy Evaluation Trial) trial of D-tagatose in drug naive patients. Results of the blinded interim data analysis of the Phase 3 trial demonstrate a significant reduction in variability of HbA1c levels, the primary endpoint of the trial. The observed data to-date indicate that the change in variability of HbA1c from baseline is favorable, and that the current sample size gives the study sufficient power to achieve the statistical significance for protocol defined differences between control and D-tagatose in HbA1c when the study reaches the planned number of patients completing treatment. The analysis noted that the results of the secondary variables, LDL, HDL, triglycerides, and body mass index (BMI), are very striking and are in agreement with that of the HbA1c results. These results demonstrate a significant decrease in the mean BMI at all time points evaluated compared to baseline. A consistent decrease of BMI and serum triglycerides was observed at each visit. A statistically significant reduction in HDL and LDL was also seen compared to baseline. In addition to the power calculation, a summary of HbA1c 'responders' (i.e., subjects achieving HbA1c target of <6.5%) was in the interim analysis report. NIH Medline Plus states that, in general, an HbA1c of 6% or less is normal, and diabetic patients should try to keep their HbA1c level at or below 7%. The NEET protocol sets an HbA1c lower limit of 6.6% for randomization into the trial, and an upper limit of 9%. At the time of the interim analysis, not all subjects had finished the entire treatment course of this trial; therefore the number of responders was different for different months of therapy>