DOW JONES NEWSWIRES
Geron Corp. (GERN) said Friday it will restate annual financial statements for fiscal years 2003 through 2005 as well as for all four quarters of 2005 and the first three quarters of 2006 to reclassify some warrants as debt.
The Menlo Park, Calif., biopharmaceutical company said the restatement of its balance sheets won't affect its previously reported revenues, operating expenses, total assets or cash position.
In the past, Geron accounted for certain warrants to purchase common shares issued in connection with equity financings from a shelf registration statement as permanent equity in the consolidated financial statements.
Geron said it will report its restated financial information in its 2006 annual report.
-James DeWeese; 201-938-5400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
March 09, 2007 07:46 ET (12:46 GMT
