SOURCE: MDRNA, Inc.

MDRNA, Inc.

April 10, 2009 08:00 ET

MDRNA, Inc. Complies With NASDAQ Marketplace Rule 4350(b)(1)(B)

BOTHELL, WA--(Marketwire - April 10, 2009) - MDRNA, Inc. (NASDAQ: MRNA) announced today that the Company's independent registered public accounting firm included an explanatory paragraph in their opinion on the Company's financial statements included in the recently filed Annual Report on Form 10-K for the year ended December 31, 2008, relating to the Company's ability to continue as a going concern.

"As we described in our fourth quarter earnings call, we expected to receive the going concern qualification from our public accounting firm," stated J. Michael French, President and Chief Executive Officer of MDRNA. "We remain confident that our RNAi drug discovery platform, the science behind the platform and our superb scientific team will drive both partnering and financing deals which together will generate additional capital to meet our business strategy goals, as well as build shareholder value."

This announcement is being made in compliance with NASDAQ Marketplace Rule 4350(b)(1)(B), which requires separate disclosure in a press release regarding the receipt of an auditor opinion that contains a going concern explanatory paragraph. This announcement does not represent any change or amendment to the Company's 2008 financial statements or to its Annual Report on Form 10-K.

About MDRNA, Inc.

MDRNA is a biotechnology company focused on the development and commercialization of therapeutic products based on RNA interference (RNAi). Our goal is to improve human health by combining novel RNAi-based compounds and proprietary peptide- and liposomal-based drug delivery technologies to provide superior therapeutic options. Our multi-disciplinary portfolio of capabilities includes molecular biology, cellular biology, formulation expertise, peptide and alkylated amino acid chemistry, pharmacology, toxicology and bioinformatics. We are applying this expertise to a single, integrated drug discovery platform that will be the engine for our clinical pipeline and a versatile platform for establishing broad therapeutic partnerships. We are also building on new technologies, such as UsiRNAs that incorporate the non-nucleotide moiety Unlocked Nucleobase Analog (UNA) within the siRNA molecule, that we expect to lead to safer and more effective RNAi-based therapeutics. By combining broad expertise in siRNA science with proven delivery platforms and a strong and growing IP position, MDRNA is well positioned as a leading RNAi therapeutics company and value-added collaborator for our research partners. Additional information about MDRNA, Inc. is available at http://www.mdrnainc.com.

MDRNA Forward-Looking Statement

Statements made in this news release may be forward-looking statements within the meaning of Federal Securities laws that are subject to certain risks and uncertainties and involve factors that may cause actual results to differ materially from those projected or suggested. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to: (i) the ability of MDRNA to obtain additional funding; (ii) the ability of MDRNA to attract and/or maintain manufacturing, research, development and commercialization partners; (iii) the ability of MDRNA and/or a partner to successfully complete product research and development, including preclinical and clinical studies and commercialization; (iv) the ability of MDRNA and/or a partner to obtain required governmental approvals; and (v) the ability of MDRNA and/or a partner to develop and commercialize products that can compete favorably with those of competitors. Additional factors that could cause actual results to differ materially from those projected or suggested in any forward-looking statements are contained in MDRNA's most recent periodic reports on Form 10-K and Form 10-Q that are filed with the Securities and Exchange Commission. MDRNA assumes no obligation to update and supplement forward-looking statements because of subsequent events.

Contact Information

  • Contact:

    Matthew D. Haines
    Senior Director, Investor Relations and Corporate Communications
    (212) 209-3874
    Email Contact

    McKinney|Chicago (Media)
    Alan Zachary
    (312) 944-6784 x 316 or
    (708) 707-6834
    Email Contact