MRI contrast developer Epix Pharmaceuticals says it will restate its financial statements to record additional noncash charges for stock-based compensation expenses related to past option grants.
The Lexington, MA-based company said the restatement is required because the appropriate measurement dates for financial accounting purposes of certain stock option grants differ from the recorded grant dates of those awards.
The restatement will cover periods which predate the merger between Predix and Epix, which closed in August 2006.
By AuntMinnie.com staff writers
February 26, 2007
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