When Apple changed its iPhone Developer Program Licence Agreement, Adobe decided to abandon the iPhone app-building technology included in Flash CS5. But now that Apple's allowing third-party development tools, Adobe will pick up right where it left off.
As Adobe points out, it's worth keeping in mind that "Apple's restriction on Flash content running in the browser on iOS devices remains in place" so we won't exactly be seeing such content on our devices. Still, it's great news that Adobe is resuming work on its iPhone app development tech. [Adobe]