Troubles keep popping up for

ImClone Systems

(IMCL)

.

The company said Wednesday that it will again delay the announcement of fourth-quarter and full-year 2002 results and delay filing its Form 10-K until an internal review is completed.

Further, the company received a request from the

Securities and Exchange Commission

for documents and information relating to tax liabilities associated with the exercise of warrants and options by current and former officers. The company said it intends to cooperate fully with the SEC.

ImClone's shares, which were halted earlier, were recently up 10 cents, to $17.78 on the

Nasdaq

.

New York-based ImClone said quarterly and yearly results will be delayed beyond April 15 because of its inability to finalize its audited financial statements pending completion of an ongoing internal review. The tax liabilities relate to former chief executive Sam Waksal's exercise of options and warrants, the profits of which he failed to pay a big chunk of income tax on. The company also did not comply with tax reporting requirements with respect to the exercise of these warrants.

On March 31 the company initially

delayed its fourth-quarter report. That same day, the company also said it will restate results back to 2001 and take a $23 million charge due to tax liabilities related to Waksal.

ImClone said the total amount relating to these matters could be up to $60 million, exclusive of penalties and interest. The review will determine the actual amount of the liability.

Analysts expect the company to lose 55 cents a share in the fourth quarter and $2.10 for the year.