Avalon Pharmaceuticals Receives Audit Opinion Containing Going Concern Statement.GERMANTOWN, Md. -- Avalon Pharmaceuticals, Inc. (Nasdaq:AVRX), today announced, in compliance with NASDAQ Marketplace Rule 4350(b)(1)(B), that the independent audit report included in the Company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the fiscal year ended December 31, 2008 contained an unqualified audit opinion from its independent public accounting firm, Ernst & Young LLP LLP - Lower Layer Protocol , which included a "going concern" explanatory ex·plan·a·to·ry adj. Serving or intended to explain: an explanatory paragraph. ex·plan statement. This disclosure is required under NASDAQ rules and does not represent any change to the Company's Annual Report on Form 10-K for the year ended December 31, 2008 which was filed on March 31, 2009 with the Securities and Exchange Commission. About Avalon Pharmaceuticals Avalon is a biopharmaceutical company focused on the discovery, development and commercialization of first-in-class cancer therapeutics therapeutics Treatment and care to combat disease or alleviate pain or injury. Its tools include drugs, surgery, radiation therapy, mechanical devices, diet, and psychiatry. . |
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