Epix Pharmaceuticals regains Nasdaq compliance

Lexington biopharmaceutical company Epix Pharmaceuticals Inc. today said it has been advised by the Nasdaq Listing and Hearing Review Council that it has regained compliance with listing requirements and the company is eligible to continue to trade on the Nasdaq Global Market.

The annual report on Form 10-K for the fiscal year ended December 31, 2006 was delayed as a result of a review of past stock option practices. All of the stock option grants requiring adjustment were granted during the years 1997 through 2005, which predates the company's merger with Predix.

The 10-K filed on April 10, 2007 was adjusted to reflect the restatement of Epix's financial results. The adjustments did not affect previously reported revenue, cash, cash equivalents, or marketable securities balances.