Biopharmaceuticals
AVI BioPharma Announces Intention to Restate Financial Statements
Published in Lab Business Week, November 11th, 2007
AVI BioPharma, Inc. (NASDAQ:AVII), announced that it will restate financial statements for the three years ended Dec. 31, 2006, the three months ended March 31, 2007, and the three and six months ended June 30, 2007, contained in its previously filed Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q, respectively. The restatements arise from reclassifying certain warrants issued by the company in 2003, 2004 and 2005 as liabilities. These warrants were previously classified in equity.
AVI has evaluated the impact to earnings in each of the previously filed reporting periods effected, and concluded that the changes are quantitatively material to its...
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Source: Lab Business Week (2007-11-11)
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