Business Context and Reporting Period
This Form 8-K is a current report filed by Madrigal Pharmaceuticals, Inc. on September 26, 2016. The filing addresses a change in the company's independent registered public accounting firm for the 2016 fiscal year.
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 corporate governance regarding the external auditor.
Material Changes
- Dismissal of Prior Auditor: Ernst & Young LLP was dismissed as the independent registered public accounting firm, effective July 22, 2016.
- Engagement of New Auditor: PricewaterhouseCoopers LLP (PwC) was approved by the Audit Committee on September 26, 2016, and formally engaged on September 28, 2016, to serve as the independent registered public accounting firm for the 2016 fiscal year.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or management commentary regarding business operations. Regarding risks and contingencies, the company confirmed that during the fiscal years ended December 31, 2015 and 2014, and subsequent interim periods, there were no consultations with PwC regarding accounting principles or audit opinions, nor were there any disagreements or reportable events between the company and PwC.
Investor Verification Checklist
- Verify the effective date of the dismissal of Ernst & Young LLP (July 22, 2016).
- Confirm the formal engagement date of PricewaterhouseCoopers LLP (September 28, 2016).
- Review the company's most recent 10-K or 10-Q for financial performance data, as this 8-K contains no financial metrics.