Panic at the Disco have insisted that they are “alive and very, very well” following the departure of two members.

Guitarist Ryan Ross and bassist Jon Walker quit the group earlier this week in order to pursue other musical projects.

In a joint statement, remaining members Brendon Urie and Spencer Smith said the four had shared “an amazing journey” but reached the stage where they had grown apart.

“Sometimes individual tastes take friends in different directions and you can't ignore it,” they said.

“They are some of the most talented guys we know, and we're sure that whatever they do next will be great.”

Urie and Smith added that they were currently working on new material ahead of their forthcoming tour with Blink 182 and No Doubt.

“We know everybody has a lot of questions at this point with everything being so out of the blue, most of those should be answered in the coming weeks,” the said.

“We appreciate every one of you, and hope you continue with us on this incredible ride.”

(by Jason Gregory)