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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 13.5pt">UNITED STATES</FONT><BR>
<FONT STYLE="font-size: 13.5pt">SECURITIES AND EXCHANGE COMMISSION </FONT><BR>
<FONT STYLE="font-size: 10pt">WASHINGTON, D.C. 20549 </FONT></P>

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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FORM 8-K</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CURRENT REPORT</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Pursuant to Section&nbsp;13 or 15(d) of
the Securities Exchange Act of 1934</P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
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    <TD STYLE="width: 52%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">Date of Report (Date of Earliest Event Reported):</FONT></TD>
    <TD STYLE="width: 5%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 43%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">May 6, 2014</FONT></TD></TR>
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<P STYLE="font: 24pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Marina Biotech, Inc.</P>

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    <TD STYLE="width: 28%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 44%; text-align: center; border-top: Black 1pt solid"><FONT STYLE="font-size: 10pt">(Exact name of registrant as specified in its charter) </FONT></TD>
    <TD STYLE="width: 28%; text-align: center">&nbsp;</TD></TR>
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    <TD STYLE="width: 35%; text-align: center"><FONT STYLE="font-size: 10pt">Delaware </FONT></TD>
    <TD STYLE="width: 6%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 20%; text-align: center"><FONT STYLE="font-size: 10pt">000-13789 </FONT></TD>
    <TD STYLE="width: 12%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 27%; text-align: center"><FONT STYLE="font-size: 10pt">11-2658569 </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; border-top: Black 1pt solid"><FONT STYLE="font-size: 10pt">(State or other jurisdiction </FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; border-top: Black 1pt solid"><FONT STYLE="font-size: 10pt">(Commission </FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; border-top: Black 1pt solid"><FONT STYLE="font-size: 10pt">(I.R.S. Employer </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">of incorporation) </FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">File Number) </FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Identification No.) </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">P.O. Box 1559 , Bothell, WA</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">98041 </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; border-top: Black 1pt solid"><FONT STYLE="font-size: 10pt">(Address of principal executive offices) </FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; border-top: Black 1pt solid"><FONT STYLE="font-size: 10pt">(Zip Code) </FONT></TD></TR>
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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 52%; text-align: center"><FONT STYLE="font-size: 10pt">Registrant&rsquo;s telephone number, including area code: </FONT></TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 43%; text-align: center"><FONT STYLE="font-size: 10pt">425-892-4322 </FONT></TD></TR>
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    <TD STYLE="width: 24%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 56%; text-align: center"><FONT STYLE="font-size: 10pt">N/A</FONT></TD>
    <TD STYLE="width: 20%; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; border-top: Black 1pt solid"><FONT STYLE="font-size: 10pt">Former name or former address, if changed since last report</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Check the appropriate box below
if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following
provisions:</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<BR>
<FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)<BR>
<FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))<BR>
<FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 4.01 Changes in Registrant&rsquo;s Certifying Accountant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-weight: normal">(a)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal"><U>Prior Independent
Registered Public Accounting Firm</U></FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">KPMG LLP was previously
the principal accountants for Marina Biotech, Inc. (the &ldquo;Company&rdquo;). On May 6, 2014, KPMG LLP was informed of its
dismissal and that Wolf &amp; Company, P.C. had been engaged as principal accountants. The decision to change accountants was
authorized by the Board of Directors, as described in item (b) below.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">During the two fiscal years
ended December 31, 2011 (the most recent audited financial statements filed by the Company), and the subsequent period through
May 6, 2014, there were no: (1) disagreements with KPMG LLP on any matter of accounting principles or practices, financial statement
disclosure, or auditing scope or procedures, which disagreements if not resolved to their satisfaction would have caused them to
make reference in connection with their opinion to the subject matter of the disagreement, or (2) reportable events, except that
KPMG LLP advised the Company of the following material weaknesses:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

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<TD STYLE="width: 22.5pt"></TD><TD STYLE="width: 13.5pt"><FONT STYLE="font-family: Symbol; font-weight: normal">&middot;</FONT></TD><TD><FONT STYLE="font-weight: normal">Financial Reporting Process: The Company did not maintain a financial reporting process which
would have enabled the Company to issue timely financial statements as required by the rules of the SEC.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 22.5pt"></TD><TD STYLE="width: 13.5pt"><FONT STYLE="font-family: Symbol; font-weight: normal">&middot;</FONT></TD><TD><FONT STYLE="font-weight: normal">Qualified Personnel: Processes and controls over timely impairment testing of long-lived
assets were inadequate primarily because the Company lacked the resources to acquire the necessary valuation expertise to operate
effective processes and controls over the impairment testing of long-lived assets. As a result, a reasonable possibility exists
that a material misstatement in the Company&rsquo;s financial statements will not be prevented or detected on a timely basis.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">The audit reports of KPMG
LLP on the consolidated financial statements of the Company as of and for the years ended December 31, 2011 and 2010 did not contain
an adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope or accounting principles,
except as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">KPMG LLP&rsquo;s report on
the consolidated financial statements of the Company as of and for the years ended December 31, 2011 and 2010, contained a separate
paragraph stating that: &ldquo;The accompanying consolidated financial statements have been prepared assuming that the Company
will continue as a going concern. As discussed in Note 1 to the consolidated financial statements, the Company has ceased substantially
all day-to-day operations, including most research and development activities, has incurred recurring losses, has a working capital
and accumulated deficit and has had recurring negative cash flows from operations, that raise substantial doubt about its ability
to continue as a going concern. Management&rsquo;s plans in regard to these matters are also described in Note 1. The consolidated
financial statements do not include any adjustments that might result from this uncertainty.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A letter from KPMG LLP is attached as Exhibit 16.1 to this Form
8-K</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-weight: normal">(b)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal"><U>New Independent
Registered Public Accounting Firm</U></FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">On April 25, 2014, the
Board of Directors of the Company authorized the engagement of Wolf &amp; Company, P.C. (&ldquo;Wolf&rdquo;) as the
Company&rsquo;s independent registered public accounting firm for purposes of performing an audit of the Company&rsquo;s
financial statements for the fiscal years ended December 31, 2012 and December 31, 2013. The Company entered into an
engagement letter with Wolf on May 12, 2014.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">During the two fiscal years
ended December 31, 2011, and the subsequent period through April 25, 2014, the Company did not consult with Wolf regarding (i)
the application of accounting principles to a specific completed or contemplated transaction, or the type of audit opinion that
might be rendered on the Company&rsquo;s consolidated financial statements, and no written report or oral advice was provided by
Wolf that was an important factor considered by the Company in reaching a decision as to the accounting, auditing or financial
reporting issue or (ii) any matter that was either the subject of a disagreement or reportable event, as each term is defined in
Item 304(a)(1)(iv) or Item 304(a)(1)(v) of Regulation S-K.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">Prior to the closing of the
merger contemplated by that certain Agreement and Plan of Merger, dated as of March 31, 2010, by and among the Company, Cequent
Pharmaceuticals, Inc. (&ldquo;Cequent&rdquo;), Calais Acquisition Corp. and a representative of the stockholders of Cequent, pursuant
to which Cequent became a wholly-owned subsidiary of the Company, Wolf served as the principal accountants for Cequent, with the
most recent audit having been performed with respect to the fiscal year ended December 31, 2009.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 9.01 Financial Statements and Exhibits</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal">(d) Exhibits:</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 11%; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Exhibit No.</FONT></TD>
    <TD STYLE="width: 1%; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 88%; font-weight: bold; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">Description</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-align: justify"><FONT STYLE="font-weight: normal">16.1</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: justify"><FONT STYLE="font-weight: normal">Letter from KPMG LLP to the Securities and Exchange Commission dated May 12, 2014</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Pursuant to the requirements
of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">MARINA BIOTECH, INC.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">May 12, 2014</FONT></TD>
    <TD STYLE="width: 6%"><FONT STYLE="font-size: 10pt">By: </FONT></TD>
    <TD STYLE="width: 44%; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ J. Michael French</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">J. Michael French</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Chief Executive Officer</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>EXHIBIT INDEX</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 11%; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt"><B>Exhibit No.</B></FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 88%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt"><B>Description</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-align: justify"><FONT STYLE="font-weight: normal">16.1</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: justify"><FONT STYLE="font-weight: normal">Letter from KPMG LLP to the Securities and Exchange Commission dated May 12, 2014</FONT></TD></TR>
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[{"type": "8-K", "sequence": "1", "filename": "t1400900_8k.htm", "description": "FORM 8-K", "secsgml_size_bytes": 25205}]
{"company-data": {"conformed-name": "Marina Biotech, Inc.", "cik": "0000737207", "assigned-sic": "2834", "irs-number": "112658569", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-13789", "film-number": "14837498"}, "business-address": {"street1": "3830 MONTE VILLA PARKWAY", "city": "BOTHELL", "state": "WA", "zip": "98021", "phone": "4259083600"}, "mail-address": {"street1": "3830 MONTE VILLA PARKWAY", "city": "BOTHELL", "state": "WA", "zip": "98021"}, "former-company": [{"former-conformed-name": "MDRNA, Inc.", "date-changed": "20080610"}, {"former-conformed-name": "NASTECH PHARMACEUTICAL CO INC", "date-changed": "19920703"}]}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported):
May 6, 2014
Marina Biotech, Inc.
(Exact name of registrant as specified in its charter)
Delaware
000-13789
11-2658569
(State or other jurisdiction
(Commission
(I.R.S. Employer
of incorporation)
File Number)
Identification No.)
P.O. Box 1559 , Bothell, WA
98041
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code:
425-892-4322
N/A
Former name or former address, if changed since last report
Check the appropriate box below
if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following
provisions:
¨
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 4.01 Changes in Registrant's Certifying Accountant.
(a)
Prior Independent
Registered Public Accounting Firm
KPMG LLP was previously
the principal accountants for Marina Biotech, Inc. (the "Company"). On May 6, 2014, KPMG LLP was informed of its
dismissal and that Wolf & Company, P.C. had been engaged as principal accountants. The decision to change accountants was
authorized by the Board of Directors, as described in item (b) below.
During the two fiscal years
ended December 31, 2011 (the most recent audited financial statements filed by the Company), and the subsequent period through
May 6, 2014, there were no: (1) disagreements with KPMG LLP on any matter of accounting principles or practices, financial statement
disclosure, or auditing scope or procedures, which disagreements if not resolved to their satisfaction would have caused them to
make reference in connection with their opinion to the subject matter of the disagreement, or (2) reportable events, except that
KPMG LLP advised the Company of the following material weaknesses:
·
Financial Reporting Process: The Company did not maintain a financial reporting process which
would have enabled the Company to issue timely financial statements as required by the rules of the SEC.
·
Qualified Personnel: Processes and controls over timely impairment testing of long-lived
assets were inadequate primarily because the Company lacked the resources to acquire the necessary valuation expertise to operate
effective processes and controls over the impairment testing of long-lived assets. As a result, a reasonable possibility exists
that a material misstatement in the Company's financial statements will not be prevented or detected on a timely basis.
The audit reports of KPMG
LLP on the consolidated financial statements of the Company as of and for the years ended December 31, 2011 and 2010 did not contain
an adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope or accounting principles,
except as follows:
KPMG LLP's report on
the consolidated financial statements of the Company as of and for the years ended December 31, 2011 and 2010, contained a separate
paragraph stating that: "The accompanying consolidated financial statements have been prepared assuming that the Company
will continue as a going concern. As discussed in Note 1 to the consolidated financial statements, the Company has ceased substantially
all day-to-day operations, including most research and development activities, has incurred recurring losses, has a working capital
and accumulated deficit and has had recurring negative cash flows from operations, that raise substantial doubt about its ability
to continue as a going concern. Management's plans in regard to these matters are also described in Note 1. The consolidated
financial statements do not include any adjustments that might result from this uncertainty."
A letter from KPMG LLP is attached as Exhibit 16.1 to this Form
8-K
(b)
New Independent
Registered Public Accounting Firm
On April 25, 2014, the
Board of Directors of the Company authorized the engagement of Wolf & Company, P.C. ("Wolf") as the
Company's independent registered public accounting firm for purposes of performing an audit of the Company's
financial statements for the fiscal years ended December 31, 2012 and December 31, 2013. The Company entered into an
engagement letter with Wolf on May 12, 2014.
During the two fiscal years
ended December 31, 2011, and the subsequent period through April 25, 2014, the Company did not consult with Wolf regarding (i)
the application of accounting principles to a specific completed or contemplated transaction, or the type of audit opinion that
might be rendered on the Company's consolidated financial statements, and no written report or oral advice was provided by
Wolf that was an important factor considered by the Company in reaching a decision as to the accounting, auditing or financial
reporting issue or (ii) any matter that was either the subject of a disagreement or reportable event, as each term is defined in
Item 304(a)(1)(iv) or Item 304(a)(1)(v) of Regulation S-K.
Prior to the closing of the
merger contemplated by that certain Agreement and Plan of Merger, dated as of March 31, 2010, by and among the Company, Cequent
Pharmaceuticals, Inc. ("Cequent"), Calais Acquisition Corp. and a representative of the stockholders of Cequent, pursuant
to which Cequent became a wholly-owned subsidiary of the Company, Wolf served as the principal accountants for Cequent, with the
most recent audit having been performed with respect to the fiscal year ended December 31, 2009.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits:
Exhibit No.
Description
16.1
Letter from KPMG LLP to the Securities and Exchange Commission dated May 12, 2014
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
MARINA BIOTECH, INC.
May 12, 2014
By:
/s/ J. Michael French
Name:
J. Michael French
Title:
Chief Executive Officer
EXHIBIT INDEX
Exhibit No.
Description
16.1
Letter from KPMG LLP to the Securities and Exchange Commission dated May 12, 2014