| Cash Flow for Keryx Biopharmaceuticals Inc. (KERX) | | | | | | | Cash Flow | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Net Income | (90,062) | (73,764) | (26,895) | (32,943) | (9,108) | | Depreciation & Amortization | 151 | 224 | 190 | 155 | 940 | | Deferred Income Taxes | - | - | - | - | 102 | | Operating Losses | (1) | - | 1,371 | 20,297 | 2,283 | | Extraordinary Losses | - | - | - | - | - | | | Decrease in Receivables | 242 | 1,064 | (2,770) | (76) | 149 | | Decrease in Inventories | - | - | - | - | - | | Decrease in Other Current Assets | 718 | (255) | (8) | - | - | | Increase in Payables | 8,674 | 4,974 | 1,975 | 874 | 22 | | Increase in Other Current Liabilities | (280) | 644 | 386 | (311) | (1,682) | | Decrease in Other Working Capital | 11,753 | - | - | - | - | | Other Non-Cash Items | 11,260 | 14,917 | - | - | - | | Net Cash from Continuing Operations | (57,545) | (52,196) | (25,751) | (12,004) | (7,294) | | Net Cash from Discontinued Operations | - | - | - | - | - | | Cash from Operating Activities | (57,545) | (52,196) | (25,751) | (12,004) | (7,294) | | | | Sale of Property, Plant, Equipment | 15 | - | 1 | - | 387 | | Sale of Short Term Investments | 100,220 | 15,000 | 23,720 | 1,000 | 944 | | | Purchase of Property, Plant, Equipment | (3,159) | (7,597) | (964) | (24) | (3) | | Acquisitions | - | - | - | - | - | | Purchase of Short Term Investments | (62,836) | (42,455) | (14,822) | (11,404) | - | | Other Investment Changes, Net | - | (204) | (23) | (12) | (1) | | Cash from Investing Activities | 27,871 | (51,928) | (13,173) | (10,440) | 1,327 | | | Issuance of Debt | - | - | - | - | - | | Issuance of Capital Stock | 271 | 84,685 | 77,400 | 36,696 | 181 | | | Repayment of Debt | - | - | - | - | - | | Repurchase of Capital Stock | (268) | - | - | - | (12) | | Payment of Cash Dividends | - | - | - | - | - | | Other Financing Charges, Net | - | - | - | (6,228) | 14,133 | | Cash from Financing Activities | 3 | 84,685 | 77,400 | 30,468 | 14,302 | | | | Effect of Exchange Rate Changes | - | - | - | 3 | (13) | | Net Change in Cash | (29,671) | (19,439) | 38,476 | 8,027 | 8,322 | | | Cash at Beginning of Year | 48,736 | 68,175 | 29,699 | 21,672 | 13,350 | | Cash at End of Period | 19,065 | 48,736 | 68,175 | 29,699 | 21,672 | | | |
