other material
confidence high
sentiment negative
materiality 0.60
Petros Pharmaceuticals terminates Marcum as auditor, engages CBIZ; prior reports include going concern
Petros Pharmaceuticals, Inc.
- Company terminated Marcum LLP as auditor on April 5, 2025, and engaged CBIZ CPAs P.C. as new independent auditor for FY 2025.
- No disagreements or reportable events except a material weakness in internal controls over financial reporting disclosed in 2024 10-K.
- Marcum's reports for FY 2023 and 2024 included an explanatory paragraph about substantial doubt as a going concern.
- Marcum provided a letter to SEC dated April 9, 2025, agreeing with the company's statements (Exhibit 16.1 filed).