SciClone Pharmaceuticals, Inc. Provides Update on the Timing of Filing Its 2012 Annual Report on Form 10-K
Published: Mar 15, 2013
FOSTER CITY, CA--(Marketwire - March 14, 2013) - As previously reported on February 22, 2013, SciClone Pharmaceuticals, Inc. (NASDAQ: SCLN) is restating its financial statements for fiscal year 2011 and the first three quarters of fiscal 2012. The Company is in the process of completing the restatement of the financials and the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2012. As a result of the Company's ongoing processes, today the Company announced that it is filing a Form 12b-25, Notification of Late Filing, to inform the Securities and Exchange Commission that it will not be able to file its 2012 10-K by the prescribed due date of March 18, 2013 without unreasonable effort or expense. The Form 12b-25 filing allows the Company up to an additional 15 calendar days following the prescribed due date to file. SciClone intends to file its 2012 Form 10-K as soon as practicable.
"We are continuing to work diligently to complete our 2012 10-K filing as expeditiously as we can," said Gary Titus, SciClone Chief Financial Officer. "We look forward to announcing our full-year 2012 financial results and to providing an update on our Company's progress and strategies for 2013 and beyond to the investment community promptly after this filing through a press release, conference call and webcast, as is our customary practice. Our goal is to complete all the work necessary to file our 2012 Form 10-K on or before April 2, 2013."
SciClone Pharmaceuticals is a US-based, China-focused specialty pharmaceutical company with a product portfolio of therapies for oncology, infectious diseases and cardiovascular, urological, respiratory, and central nervous system disorders. SciClone's ZADAXIN® (thymalfasin) is approved in over 30 countries and may be used for the treatment of hepatitis B (HBV), hepatitis C (HCV) and certain cancers, and as a vaccine adjuvant, according to the local regulatory approvals. Besides ZADAXIN, SciClone markets about 14 mostly partnered products in China, including Depakine®, the most widely prescribed broad-spectrum anti-convulsant in China; Tritace®, an ACE inhibitor for the treatment of hypertension; Stilnox®, a leading hypnotic for the short-term treatment of insomnia (marketed as Ambien® in the US); and Aggrastat®, a recently-launched interventional cardiology product. SciClone is also pursuing the registration of several other therapeutic products in China. SciClone is headquartered in Foster City, California. For additional information, please visit www.sciclone.com.
Forward-Looking Statements This press release contains forward-looking statements regarding expected financial results and expectations. Readers are urged to consider statements that include the words "may," "will," "would," "could," "should," "might," "believes," "estimates," "projects," "potential," "expects," "plans," "anticipates," "intends," "continues," "forecast," "designed," "goal," "unaudited," "approximately" or the negative of those words or other comparable words to be uncertain and forward-looking. These statements are subject to risks and uncertainties that are difficult to predict and actual outcomes may differ materially. These include risks and uncertainties relating to: changes in results that may occur in completing the close of SciClone's consolidated financial statements for fiscal year 2012, completing the audit of SciClone's consolidated financial statements for fiscal year 2012 or completing the restatement of SciClone's financial statements as referenced. Please also refer to other risks and uncertainties described in SciClone's filings with the SEC. All forward-looking statements are based on information currently available to SciClone and SciClone assumes no obligation to update any such forward-looking statements.
Ambien, Depakine, Stilnox and Tritace are registered trademarks of Sanofi and/or its affiliates.
Aggrastat is a registered trademark of Medicure International Inc. in the United States, and Iroko Cardio LLC in numerous other countries.
SciClone, SciClone Pharmaceuticals, the SciClone Pharmaceuticals design, the SciClone logo and ZADAXIN are registered trademarks of SciClone Pharmaceuticals, Inc. in the United States and numerous other countries.
Chief Financial Officer