Pacira Biosciences, Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Pacira Pharmaceuticals, Inc. (now Pacira Biosciences, Inc.) on December 14, 2015. The report discloses a change in the Company's independent registered public accounting firm.
Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance regarding the audit firm.
Material Changes
- Accountant Change: The Board of Directors, upon the Audit Committee's recommendation, engaged KPMG LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2016.
- Dismissal of Prior Firm: CohnReznick LLP will be dismissed upon completion of their audits for the fiscal year ended December 31, 2015, and the related internal control reports.
- Historical Audit Opinions: Audit reports issued by CohnReznick for the years ended December 31, 2014 and 2013 contained no adverse opinions, disclaimers, or qualifications regarding uncertainty, scope, or accounting principles.
- Disagreements: There were no disagreements with CohnReznick on accounting principles, practices, or auditing scope during the two most recent fiscal years and the interim period through December 14, 2015.
- Consultations: The Company did not consult with KPMG regarding accounting principles or reportable events during the two most recent fiscal years and the interim period.
Guidance, Outlook, and Risks
The filing does not contain financial guidance, management outlook, or specific risk factors beyond the standard disclosure of the auditor change. The Company noted it will file an amendment to this Form 8-K to provide the specific dismissal date of CohnReznick once their services are completed.
Key Facts for Investor Verification
- Verify the specific date of CohnReznick LLP's dismissal in the subsequent Form 8-K amendment.
- Review the letter from CohnReznick LLP (Exhibit 16.1) to confirm their agreement with the statements made in this filing.
- Monitor the upcoming audit report from KPMG LLP for the fiscal year ending December 31, 2016.