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

To: winbiggs who wrote (382)	12/5/2005 3:41:53 PM
From: tuck	Respond to of 510

When this first came out, I did not think it was a big deal. But this passage from the PR gave me pause: >>The Committee and its advisors are currently reviewing the appropriateness of revenue recognition in connection with certain transactions that took place in the fourth quarter of fiscal 2004 and in fiscal 2005. Due to the ongoing nature of the Committee's investigation, the reported periods affected and the financial impact of the transactions described above may change as further information becomes available.<< Particularly the last sentence. How far back might they go, and how long will it take them to go wherever they have to? Holidays are coming up . . . Do the transactions involve contract revenue or machines or consumables? If the former, the effect could be more than just an adjustment of revenue from one period to the next. Tax loss selling very much in play here, and it might not stop unless they come out with something substantive in the next couple of weeks. And I don't think that's going to happen. I've been tempted to buy some down here, but I think it might be best to wait for January. JMHO. Cheers, Tuck

To: winbiggs who wrote (382)	12/7/2005 2:01:30 PM
From: tuck	Read Replies (1) \| Respond to of 510

And, of course, there's the delisting and lawsuit angle, being played today: >>FREMONT, Calif., Dec. 6 /PRNewswire-FirstCall/ -- Ciphergen Biosystems, Inc. (Nasdaq: CIPHE - News) announced today that on December 2, 2005, the Nasdaq Listings Qualification Department ("Nasdaq") notified Ciphergen Biosystems, Inc. (the "Company") that the Company has failed to comply with the continued listing requirements of The Nasdaq National Market because the market value of the Company's listed securities has fallen below $50,000,000 for 10 consecutive business days (pursuant to Rule 4450(b)(1)(A) of the Nasdaq Marketplace Rules). Pursuant to Nasdaq Marketplace Rule 4450(e)(4), the Company was provided a period of 30 calendar days, or until January 3, 2006, to regain compliance. The December 2, 2005 Nasdaq notice is in addition to the notice disclosed in the Company's Form 8-K filed with the Securities and Exchange Commission on November 16, 2005. The Company will be appealing Nasdaq's delisting determination at a hearing before the Nasdaq Listing Qualifications Panel, which is currently scheduled for December 8, 2005. Additionally, the Company and several of its officers have been named as defendants in a securities class action complaint filed on December 5, 2005, in the United States District Court, Northern District of California. The complaint has been brought on behalf of all persons who purchased the Company's common stock from August 8, 2005, when the Company issued a press release announcing unaudited financial results for the second quarter of 2005 through November 16, 2005, when the Company announced its intention to restate those financial results. The Plaintiffs do not demand any particular amount in damages. The Company has not responded to the complaint.<< snip No Cheers Here, Tuck