GT Biopharma restates Q2/Q3 2025 financials; Greenshoe Rights liability misclassified

GT Biopharma, Inc.

Audit committee concluded non-reliance on Q2 and Q3 2025 Form 10-Q after finding Greenshoe Rights should have been liability under ASC 480.
Restatement adds $28.7M liability and loss on initial recognition in Q2; net loss restated to $30.2M from $1.4M.
For Q3, change in fair value of Greenshoe Rights added $11.4M income; net loss restated to $22.6M from $5.3M.
Greenshoe Rights liability extinguished and reclassified to equity in September 2025 after redemption rights waiver.
Company plans to file amended 10-Qs for affected periods and includes restated data in 2025 10-K.

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