Business Context and Reporting Period
This Form 8-K is filed by Lineage Cell Therapeutics, Inc. (LCTX) on June 3, 2025. The report discloses a change in the company's independent registered public accounting firm effective as of the report date.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on auditor changes and does not contain financial statement data.
Material Changes
- Auditor Merger and Resignation: Moss Adams LLP, the company's independent auditor, merged with Baker Tilly US, LLP effective June 3, 2025. Consequently, Moss Adams resigned as the auditor.
- New Auditor Appointment: The Audit Committee appointed Baker Tilly as the successor independent registered public accounting firm for the fiscal year ending December 31, 2025.
- Historical Audit Status: The audit report by Moss Adams for the year ended December 31, 2024, contained no adverse opinions, disclaimers, or qualifications.
Guidance, Outlook, and Risks
- Disagreements and Reportable Events: The company confirmed there were no disagreements with Moss Adams regarding accounting principles, practices, or auditing scope during the year ended December 31, 2024, or the period from December 31, 2024, through June 3, 2025. No "reportable events" occurred during this time.
- Consultations: The company did not consult Baker Tilly regarding accounting principles, audit opinions, or matters involving disagreements or reportable events during the two most recent fiscal years or the period leading up to June 3, 2025.
- Outlook: The filing contains no financial guidance or management commentary on business outlook.
Investor Verification Checklist
- Verify the transition timeline and continuity of audit services between Moss Adams and Baker Tilly.
- Review the letter from Moss Adams LLP (Exhibit 16.1) to confirm their agreement with the company's statements regarding the resignation.
- Monitor future filings for the first audit report issued by Baker Tilly to ensure no new qualifications or disagreements arise.
- Confirm that the merger of the audit firms does not impact the company's ability to meet upcoming financial reporting deadlines.