CytomX Therapeutics, Inc. (CTMX): auditor change — CytomX restates 2018-2021 annual and 2018-2022 quarterly financials due to revenue recognition error

CytomX Therapeutics, Inc.

Restatement affects timing of revenue from collaborations with Bristol-Myers Squibb, Astellas, AbbVie, and Amgen.
No impact on total revenue, cash position, or cash flows; only timing of revenue recognition changes.
Material weakness identified in internal control over financial reporting related to ASC 606 application.
Company plans to amend 2021 Form 10-K and restate 2021 and 2022 quarters in 2022 Form 10-K.

item 4.02

Key facts

Extracted from this filing and checked against the source text.

Auditor Changes SEC 8-K Item 4.01/4.02 confidence 0.9

CytomX Therapeutics, Inc. reported that prior financial statements should not be relied upon.

Action: non reliance
Auditor: Ernst & Young LLP

Exact text from the filing

determined that the Company's financial statements and related earnings press releases for the years ended December 31, 2018, 2019, 2020 and 2021, and each of the previously reported quarters from 2018 through 2022 (the “Restated Periods”), should no longer be relied upon.

View on SEC.gov

Browse all auditor changes →

CytomX Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-047460

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.