Business Context and Reporting Period
Company: Delcath Systems, Inc. (DCTH)
Filing Type: Form 8-K (Current Report)
Date of Report: March 18, 2025
Reporting Period: Immediate event reporting regarding a change in independent registered accounting firm.
Key Financial Metrics
This filing does not contain revenue, profit, cash flow, margin, debt, or liquidity figures. The document focuses exclusively on the administrative change of the external auditor.
Material Changes
- Resignation of Auditor: Marcum LLP resigned as the Company's independent registered accounting firm on March 18, 2025.
- Appointment of New Auditor: CBIZ CPAs P.C. was engaged effective immediately as the independent registered public accounting firm for the fiscal year ended December 31, 2025.
- Reason for Change: The resignation followed the acquisition of Marcum's attest business by CBIZ CPAs on November 1, 2024.
- Audit History: Marcum's reports for fiscal years 2023 and 2024 contained no adverse opinions or disclaimers. However, the 2023 report included an explanatory paragraph regarding substantial doubt about the Company's ability to continue as a going concern.
- Disagreements: The Company reported no disagreements with Marcum regarding accounting principles, financial statement disclosures, or auditing scope/procedures during the relevant periods.
Guidance, Outlook, and Risks
Management Commentary: The Audit Committee approved the engagement of CBIZ CPAs. The Company confirmed no consultations with CBIZ regarding accounting principles or audit opinions prior to the engagement.
Risks and Contingencies: The filing references a prior "substantial doubt about the Company's ability to continue as a going concern" noted in the 2023 audit report. No new risks or contingencies were disclosed in this specific filing.
Investor Verification Checklist
- Verify the status of the "going concern" warning issued in the 2023 audit report and whether it has been resolved in subsequent filings.
- Review the letter from Marcum LLP (Exhibit 16.1) to confirm their agreement with the Company's statements regarding the resignation.
- Monitor upcoming financial statements (10-K/10-Q) for the first audit opinion issued by CBIZ CPAs.
- Check for any concurrent filings regarding liquidity or capital raises that may address the prior going concern issues.