Selection of Firm to Replace Arthur Andersen Results in Submission of
Extension for Filing Second Quarter Earnings Results
CARLSBAD, Calif., Aug. 14 /PRNewswire-FirstCall/ --
The Immune Response Corporation (Nasdaq: IMNR) announced the selection of BDO
Seidman, LLP ("BDO Seidman") as its new auditor, replacing Arthur Andersen
LLP, which was dismissed by the company on August 5. The selection of a new
auditor resulted in the company today submitting a five day extension for
filing its second quarter earnings for the period ending June 30, 2002 in
order to allow BDO Seidman time to review the company's filing.
"After an extensive review, we are pleased with the selection of BDO
Seidman, given their reputation for integrity, diligence and quality
auditing," said Michael Jeub, vice president of finance and chief financial
officer of The Immune Response Corporation. "We have submitted a form to the
Securities and Exchange Commission which provides for a five day extension to
the period in which we must file our Form 10-Q, in order to allow the new
auditors the opportunity to review our filing. We do not anticipate any
further delays arising from this. The company's management also has committed
to certifying the results as per the newly enacted federal law."
Co-founded by medical pioneer, Dr. Jonas Salk and based in Carlsbad,
California, The Immune Response Corporation is a biopharmaceutical company
developing immune-based therapies designed to treat HIV, autoimmune diseases
and cancer. The Company also develops and holds patents on several
technologies that can be applied to genes in order to increase gene expression
or effectiveness, making it useful in a wide range of therapeutic applications
for a variety of disorders. Company information is also available at
http://www.imnr.com .
About BDO Seidman: BDO Seidman is a leading national professional
services firm providing tax, assurance, and financial advisory services to a
variety of industries. BDO Seidman is dedicated to providing quality service
and leadership through hands-on involvement of its most experienced and
committed professionals. BDO Seidman serves clients through more than 39
offices and 160 alliance firm locations nationwide. As a member of BDO
International, BDO Seidman serves clients by leveraging a global distribution
network of resources comprised of more than 590 member firm offices in 99
countries.
This news release contains forward-looking statements. Actual results
could vary materially from those expected due to a variety of risk factors,
including whether the Company will successfully raise proceeds from financing
activities sufficient to fund operations, the uncertainty of successful
completion of clinical trials, whether Remune(R) is effective as either a
preventive or therapeutic vaccine, whether future trials will be conducted,
whether the results of REMUNE(R) in clinical trials will coincide with the
results of REMUNE(R) in preclinical trials, and those risks set forth from
time to time in The Immune Response Corporation's SEC filings, including but
not limited to its report on Form 10-K for the year ended December 31, 2001
and subsequent Form 10-Q. The Company undertakes no obligation to publicly
release the result of any revisions to these forward-looking statements, which
may be made to reflect events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events.
REMUNE(R) is a registered trademark of The Immune Response Corporation.
SOURCE The Immune Response Corporation
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Related links:
http://www.imnr.com
CONTACT:
Investors, Kathy Lane of The Immune Response
Corporation, +1-760-771-2236, or fax, +1-760-771-2140,
info@imnr.com; or media, James Lee of The Lee Strategy Group,
+1-310-229-5771, or fax, +1-310-229-5772, jlee@leestrategy.com,
for The Immune Response Corporation
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