Genesis Research and Development says its auditors have resigned due to concerns over lack of funding.
Ernst and Young had not yet started the audit of the biotechnology company and decided to resign over a lack of information on future funding and the suspension of share trading on the stock market.
Genesis Research and Development says it will take some time for new auditors to be appointed and it is unlikely its full year results will be completed by the end of the month, when they are required to be announced.
