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Biotech / Medical : Ciphergen Biosystems(CIPH): -- Ignore unavailable to you. Want to Upgrade?

To: tuck who wrote (321)	4/4/2005 6:43:31 PM
From: nigel bates	Respond to of 510

Ciphergen Forecasts First Quarter Revenues Monday April 4, 6:00 pm ET FREMONT, Calif., April 4 /PRNewswire-FirstCall/ -- Ciphergen Biosystems, Inc. (Nasdaq:CIPH - News) announced that it believes that revenue for the first quarter ended March 31, 2005 will be approximately $6.3-6.7 million, as compared to prior guidance of $8-9 million. This preliminary forecast is subject to final accounting and audit processes, and therefore could change. William E. Rich, President and CEO, commented: "We are disappointed with our anticipated sales results for the first quarter. To address this situation we have initiated a three point plan including: the appointment of Paul Smith as our new VP of North America and European Sales; a broad restructuring of our sales programs; and introduction of a new comprehensive corporate and divisional public relations strategy. We anticipate that the effects of these will be seen during the coming quarters and, combined with the solid progress of our Diagnostics Division, we remain enthusiastic about the future growth of the company as we continue to address the emerging biomarker proteomics research, pharma and diagnostic markets." Ciphergen plans to announce financial results for the first quarter on May 6, 2005, at which time we will hold a conference call to discuss those results as well as other activities at the company. About Ciphergen Ciphergen's Biosystems Division develops, manufactures and markets a family of ProteinChip® Systems and services for clinical, research, and process proteomics applications. ProteinChip Systems enable protein discovery, characterization, identification and assay development to provide researchers with predictive, multi-marker assay capabilities and a better understanding of biological function at the protein level. Ciphergen's Diagnostics Division is dedicated to the discovery of protein biomarkers and panels of biomarkers and their development into protein molecular diagnostic tests that improve patient care; and to providing collaborative R&D services through its Biomarker Discovery Center® laboratories for biomarker discovery for new diagnostic tests as well as pharmacoproteomic services for improved drug toxicology, efficacy and theranostic assays. Additional information about Ciphergen can be found at www.ciphergen.com.