DefaultJul 1, 2026, 04:07 PM
Sangamo Therapeutics Terminates Auditor; Stock on OTC After Chapter 11
AI Summary
Sangamo Therapeutics terminated Ernst & Young LLP (EY) as its independent registered public accounting firm on June 25, 2026, following the company's previously announced Chapter 11 bankruptcy filing. EY's reports for fiscal years 2024 and 2025 included a going concern explanatory paragraph but no other adverse opinions or disagreements. Concurrently, on June 24, 2026, the company's common stock began trading on the OTCID Basic Market under "SGMOQ" due to the bankruptcy, though it remains listed on Nasdaq Capital Market pending an appeal of a delisting determination. A new auditor has not yet been engaged.
Key Highlights
- Sangamo Therapeutics terminated Ernst & Young LLP (EY) as its independent auditor on June 25, 2026.
- The termination followed the company's previously announced Chapter 11 bankruptcy filing.
- EY's reports for fiscal years 2024 and 2025 included a 'going concern' explanatory paragraph.
- No disagreements or reportable events with EY were reported for 2024, 2025, or interim period.
- Company's common stock began trading on the OTCID Basic Market under 'SGMOQ' on June 24, 2026.
- Nasdaq Capital Market listing is stayed pending an appeal of the delisting determination.
- A new independent registered public accounting firm has not yet been engaged.
Price Impact
More from SGMO