EPIX Pharmaceuticals Receives Audit Opinion Containing Going Concern Qualification
LEXINGTON, Mass. -- Mar. 25, 2009-- EPIX Pharmaceuticals, Inc. a biopharmaceutical company focused on discovering and developing novel therapeutics through the use of its proprietary and highly efficient in silico drug discovery platform today announced that its Form 10-K filed with the Securities and Exchange Commission on March 13, 2009 included a going concern qualification from its independent registered accounting firm, Ernst & Young LLP.
This announcement is being made in order to comply with Nasdaq Marketplace Rule 4350(b)(1)(B), which requires a Nasdaq-listed issuer that receives an audit opinion that contains a going concern qualification to make a public announcement to that effect. This announcement does not represent any change or amendment to the company's 2008 financial statements or to its Annual Report on Form 10-K.
About EPIX
EPIX Pharmaceuticals is a biopharmaceutical company focused on discovering and developing novel therapeutics through the use of its proprietary and highly efficient in silico drug discovery platform. The company has a pipeline of internally-discovered drug candidates currently in clinical development to treat diseases of the central nervous system (see www.trialforAD.com) and lung conditions. EPIX also has collaborations with leading organizations, including GlaxoSmithKline, Amgen and Cystic Fibrosis Foundation Therapeutics. For more information, please visit the company's website at www.epixpharma.com.
Source: EPIX Pharmaceuticals, Inc.
EPIX
Kim C. Drapkin, 781-761-7602
Chief Financial Officer
or
Pure Communications
Jennifer Beugelmans, 646-596-7473
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