FDAnews Drug Daily Bulletin

AXM PHARMA TO RESTATE FINANCIAL STATEMENTS FOR Q2 2005

Nov. 2, 2005
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AXM Pharma, Inc. (Amex: AXJ), a manufacturer of proprietary and generic pharmaceutical and nutraceutical products for the Chinese and other Asian markets, announced today that the company will restate its financial statements for the second quarter of 2005. The decision to restate is the result of a review initiated by Madame Wang Weishi, the company's current Chief Executive Officer, and was reached in conjunction with the Audit Committee of the company's Board of Directors, whose newly-elected Chair is Mr. Thomas Carson.

PR Newswire (http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/10-31-2005/0004203734&EDATE=)