Business Context and Reporting Period
This Form 8-K filing by Lion Biotechnologies, Inc. (not IOVANCE Biotherapeutics, Inc.) covers the date of April 4, 2016. The report details a change in the company's independent registered public accounting firm.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on the administrative change of auditors.
Material Changes
- Dismissal of Previous Auditor: On April 4, 2016, the company dismissed Weinberg & Company, P.A. as its independent registered public accounting firm. This action was approved by the Audit Committee.
- Engagement of New Auditor: On April 4, 2016, the company engaged Marcum, LLP to serve as its independent registered public accounting firm for the fiscal year ending December 31, 2016. This engagement was also approved by the Audit Committee.
- Audit History: Weinberg's reports for fiscal years 2014 and 2015 contained no adverse opinions, disclaimers, or qualifications. There were no disagreements between the company and Weinberg regarding accounting principles, practices, or audit scope during those periods or through April 4, 2016.
Guidance, Outlook, and Risks
The filing does not contain financial guidance, management outlook, or specific risk factors related to operations. The primary disclosure is the procedural change in audit oversight. The company confirmed that no consultations with the new auditor, Marcum, LLP, occurred regarding accounting principles or disagreements prior to their engagement.
Investor Verification Checklist
- Verify the identity of the registrant as Lion Biotechnologies, Inc., noting the discrepancy with the requested company name (IOVANCE Biotherapeutics, Inc.).
- Confirm the effective date of the auditor change (April 4, 2016) and the specific firms involved (Weinberg & Company, P.A. and Marcum, LLP).
- Review the attached Exhibit 16.1 (Letter from Weinberg) to ensure the former auditor agrees with the company's disclosures regarding the dismissal.
- Check subsequent filings to confirm the transition of audit responsibilities to Marcum, LLP for the 2016 fiscal year.