Ciphergen CEO Steps Down as Company Restates Q2 Earnings, Posts 16-Percent Decline in Q3 Revenues

Ciphergen Biosystems this week restated its second-quarter earnings to reflect the "improper recognition" of $552,000 in revenues that its audit committee identified in mid-November (see ///issues/5_28/features/127527-1.html"sp?Article=20051110152326" target="_blank">ProteoMonitor, 11/11/2005).

The company also reported a 16-percent decline in its third-quarter revenues and announced several executive management changes.

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