AMDL retains firm for statistical analysis

AMDL (Tustin, California), a developer of tests for the early detection of cancer and other serious diseases, reported that it has retained the statistical and regulatory consulting firm R.P. Chiacchierini & Associates (Rockville, Maryland) to provide additional statistical analysis for the FDA to support its request for clearance to market its DR-70 cancer test kit in the U.S.

AMDL, a theranostics company, develops the DR-70 non-invasive cancer blood test.

Affymetrix completes restatement

Affymetrix (Santa Clara, California) reported that it has completed its financial restatement and filed with the SEC an amended Form 10-K/A for the year ended Dec. 31, 2005, and an amended Form 10-Q/A for the quarter ended March 31, 2006. The company said it also filed its Form 10-Q for the quarter ended June 30, 2006, delayed due to the restatement.

Affymetrix said it is now current in its SEC reporting, and expects that the previously disclosed Nasdaq delisting action will be terminated and that the notice of default under the company's indenture has been cured.

As previously disclosed, an internal review performed under the direction of the audit committee of the board of directors identified certain errors and documentation lapses in the company's historic option-granting practices but did not find any pattern of inappropriately identifying grant dates with hindsight. Affymetrix concluded that as a result of a documentation lapse in July 1999, an option grant for an aggregate of 1.99 million shares should have been measured for accounting purposes as of a later date. In light of the restatement required, the company included in its restatement corrections relating to other errors and lapses in FY97 and FY98. Around 97% of the charges relating to the restatement arose from the documentation lapse in July 1999.