By Sabela Ojea
Hoth Therapeutics will restate seven of its audited reports after it identified errors related to the recording of prepaid research and development costs.
The clinical-stage biopharmaceutical company on Tuesday said the audit committee of its board of directors took the decision of correcting the errors for each of its interim periods that ended March 31, June 30, and Sept. 30 for 2023 and 2024, and the 2023 annual report.
The company will disclose in its annual report for 2024 the restated audited consolidated and unaudited condensed consolidated financial statements for each of the non-reliance periods, the company said in a filing with the Securities and Exchange Commission.
"As a result, the audited consolidated and unaudited condensed consolidated financial statements for each of the non-reliance periods should no longer be relied on," the company said in a Securites and Exchange Comission filing.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
March 25, 2025 19:06 ET (23:06 GMT)
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