Physiometrix' 10-K includes 'going concern'
Physiometrix (North Billerica, Massachusetts) said that its 2004 financial statements included in the company's Form 10-K, filed on March 31, with the Securities and Exchange Commission, contained a "going concern" qualification from its auditors.
The announcement, it said, is made to comply with Nasdaq rule requiring disclosures of such an opinion. The uncertainty described is based upon the company's cash balance as of Dec. 31, which, it said, "was not sufficient to fund projected operations over the next year and does not take into account any potential future cash inflows."
Physiometrix makes non-invasive medical products, based on gel materials, signal-processing electronic technologies and software, for use in anesthesia monitoring during surgery.
EZ-EM to switch to Nasdaq trading
E-Z-EM (Lake Success, New York) reported that its board has approved the decision to switch the listing of the company's common stock from the American Stock Exchange to the Nasdaq National Market. Effective April 12, the company's stock will begin trading under the symbol Nasdaq: EZEM. The stock will continue to trade on the American Stock Exchange until the effective date.
Paul Echenberg, chairman of the E-Z-EM board, said, "This decision was reached after careful consideration of the capital market alternatives. We believe that trading on the Nasdaq National Market will allow us to increase the liquidity of our stock and increase the visibility of the company, while at the same time providing investors with the best prices, the fastest execution, and the lowest cost per trade."
E-Z-EM is a manufacturer of contrast agents for gastrointestinal radiology.
Chemicon, OncoMethylome in pact
Serologicals (Norcross, Georgia) said that Chemicon International (Temecula, California), its wholly-owned subsidiary, and OncoMethylome Sciences (Liege, Belgium) have entered into an agreement in which OMS has licensed Chemicon's patented fluorescent detection technology, Amplifluor, for the clinical development of diagnostic assays detecting DNA methylation patterns.