Business Context and Reporting Period
Daré Bioscience, Inc. (formerly Cerulean Pharma Inc.) filed a Current Report on Form 8-K on July 19, 2017. The filing addresses a change in the company's independent registered public accounting firm.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on corporate governance regarding the audit firm.
Material Changes
- Resignation of Prior Auditor: Deloitte & Touche LLP resigned as the independent registered public accounting firm effective July 19, 2017. The Audit Committee accepted the resignation.
- Appointment of New Auditor: Mayer Hoffman McCann P.C. was appointed as the new independent registered public accounting firm for the fiscal year ending December 31, 2017, effective July 19, 2017.
- Audit History: Deloitte's audit reports for fiscal years 2016 and 2015 contained no adverse opinions, disclaimers, or qualifications. There were no disagreements with Deloitte regarding accounting principles, practices, or audit scope during the relevant periods.
Guidance, Outlook, and Risks
The filing contains no management guidance, financial outlook, or discussion of operational risks. It confirms that no reportable events under Item 304(a)(1)(v) of Regulation S-K occurred during the two most recent fiscal years or the interim period through July 19, 2017. The company confirmed that no consultations were held with the new auditor, Mayer Hoffman, regarding accounting principles or disagreements prior to their appointment.
Investor Verification Checklist
- Verify the reasons for Deloitte & Touche LLP's resignation by reviewing the attached letter (Exhibit 16.1).
- Confirm the transition timeline for the new auditor, Mayer Hoffman McCann P.C., for the 2017 fiscal year.
- Review subsequent filings to ensure no undisclosed disagreements or reportable events emerged post-resignation.