Contact Information: Contact: Matthew D. Haines Senior Director, Investor Relations and Corporate Communications (212) 209-3874 McKinney|Chicago (Media) Alan Zachary (312) 944-6784 x 316 or (708) 707-6834
MDRNA, Inc. Complies With NASDAQ Marketplace Rule 4350(b)(1)(B)
| Source: MDRNA, Inc.
BOTHELL, WA--(Marketwire - April 10, 2009) - MDRNA, Inc. (NASDAQ : MRNA ) announced today that
the Company's independent registered public accounting firm included an
explanatory paragraph in their opinion on the Company's financial
statements included in the recently filed Annual Report on Form 10-K for
the year ended December 31, 2008, relating to the Company's ability to
continue as a going concern.
"As we described in our fourth quarter earnings call, we expected to
receive the going concern qualification from our public accounting firm,"
stated J. Michael French, President and Chief Executive Officer of MDRNA.
"We remain confident that our RNAi drug discovery platform, the science
behind the platform and our superb scientific team will drive both
partnering and financing deals which together will generate additional
capital to meet our business strategy goals, as well as build shareholder
value."
This announcement is being made in compliance with NASDAQ Marketplace Rule
4350(b)(1)(B), which requires separate disclosure in a press release
regarding the receipt of an auditor opinion that contains a going concern
explanatory paragraph. 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 MDRNA, Inc.
MDRNA is a biotechnology company focused on the development and
commercialization of therapeutic products based on RNA interference (RNAi).
Our goal is to improve human health by combining novel RNAi-based compounds
and proprietary peptide- and liposomal-based drug delivery technologies to
provide superior therapeutic options. Our multi-disciplinary portfolio of
capabilities includes molecular biology, cellular biology, formulation
expertise, peptide and alkylated amino acid chemistry, pharmacology,
toxicology and bioinformatics. We are applying this expertise to a single,
integrated drug discovery platform that will be the engine for our clinical
pipeline and a versatile platform for establishing broad therapeutic
partnerships. We are also building on new technologies, such as UsiRNAs
that incorporate the non-nucleotide moiety Unlocked Nucleobase Analog (UNA)
within the siRNA molecule, that we expect to lead to safer and more
effective RNAi-based therapeutics. By combining broad expertise in siRNA
science with proven delivery platforms and a strong and growing IP
position, MDRNA is well positioned as a leading RNAi therapeutics company
and value-added collaborator for our research partners. Additional
information about MDRNA, Inc. is available at http://www.mdrnainc.com.
MDRNA Forward-Looking Statement
Statements made in this news release may be forward-looking statements
within the meaning of Federal Securities laws that are subject to certain
risks and uncertainties and involve factors that may cause actual results
to differ materially from those projected or suggested. Factors that could
cause actual results to differ materially from those in forward-looking
statements include, but are not limited to: (i) the ability of MDRNA to
obtain additional funding; (ii) the ability of MDRNA to attract and/or
maintain manufacturing, research, development and commercialization
partners; (iii) the ability of MDRNA and/or a partner to successfully
complete product research and development, including preclinical and
clinical studies and commercialization; (iv) the ability of MDRNA and/or a
partner to obtain required governmental approvals; and (v) the ability of
MDRNA and/or a partner to develop and commercialize products that can
compete favorably with those of competitors. Additional factors that could
cause actual results to differ materially from those projected or suggested
in any forward-looking statements are contained in MDRNA's most recent
periodic reports on Form 10-K and Form 10-Q that are filed with the
Securities and Exchange Commission. MDRNA assumes no obligation to update
and supplement forward-looking statements because of subsequent events.