Business Context and Reporting Period
Company: Mustang Bio, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: September 20, 2021
Reporting Period: Event date September 20, 2021; Fiscal years referenced include 2019 and 2020.
Key Financial Metrics
This filing is a current report regarding a corporate governance event and does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity data. The filing text does not provide a clear value for any financial metric.
Material Changes
Change in Certifying Accountant: On September 20, 2021, Mustang Bio, Inc. dismissed BDO USA, LLP as its independent registered public accounting firm. The decision was approved by the Audit Committee and Board of Directors. The company intends to engage a nationally-recognized accounting firm following a selection process.
Guidance, Outlook, and Risks
- Accounting Disagreements: The company reported no disagreements with BDO regarding accounting principles, practices, financial statement disclosures, or auditing scope/procedures during fiscal years 2019 and 2020, or through September 20, 2021.
- Reportable Events: No "reportable events" as defined in Item 304(a)(1)(v) of Regulation S-K occurred during the referenced periods.
- Prior Audit Opinions: BDO's reports for fiscal years ended December 31, 2019, and 2020, did not contain adverse opinions, disclaimers, or qualifications regarding uncertainty, audit scope, or accounting principles.
- Outlook: The company is currently in the process of selecting a new independent registered public accounting firm.
Investor Verification Checklist
- Verify the identity of the new independent registered public accounting firm once the selection process is complete.
- Review the letter from BDO USA, LLP (Exhibit 16.1) attached to the filing for any additional context regarding the dismissal.
- Monitor future filings for the appointment of the new auditor and any potential impact on the timing of future financial reporting.