Benitec Biopharma Restates Financials

TL;DR

Benitec Biopharma is ditching old financials - expect restatements.

AI Summary

Benitec Biopharma Inc. announced on September 10, 2025, that it will not rely on previously issued financial statements or related audit reports. This decision impacts financial reporting for periods prior to the announcement, requiring restatement or correction of past financial data.

Why It Matters

This filing indicates potential inaccuracies in past financial reporting, which could affect investor confidence and require significant accounting adjustments.

Risk Assessment

Risk Level: high — Non-reliance on previously issued financial statements suggests significant accounting issues that could materially impact the company's financial health and valuation.

Key Players & Entities

• Benitec Biopharma Inc. (company) — Registrant
• September 10, 2025 (date) — Date of earliest event reported
• Delaware (jurisdiction) — State of Incorporation
• 001-39267 (company_id) — Commission File Number
• 84-4620206 (company_id) — IRS Employer Identification No.
• 3940 Trust Way (address) — Principal Executive Offices Street
• Hayward (city) — Principal Executive Offices City
• California (state) — Principal Executive Offices State
• 94545 (zip_code) — Principal Executive Offices Zip
• (510) 780-0819 (phone_number) — Registrant's Telephone Number

FAQ

Key Financial Figures

• $0.0001 B — ch registered Common Stock, par value $0.0001 BNTC The Nasdaq Stock Market LLC Indi

Filing Documents

• bntc-20250910.htm (8-K) — 50KB
• 0000950170-25-114530.txt ( ) — 150KB
• bntc-20250910.xsd (EX-101.SCH) — 23KB
• bntc-20250910_htm.xml (XML) — 4KB

02 Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review

Item 4.02 Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review. In connection with the preparation of Benitec Biopharma Inc.'s ("Benitec," or the "Company") Annual Report on Form 10-K for the fiscal year ended June 30, 2025 (the "2025 Form 10-K"), the Company determined that in prior periods it had not appropriately recorded certain non-cash share-based compensation expenses . Accordingly, on September 10, 2025, the Audit Committee (the "Audit Committee") of the Company's Board of Directors, after discussion with management and the Company's independent registered public accountants, concluded that (i) the Company's unaudited consolidated financial statements as of and for the three and nine months ended March 31, 2025 contained in its Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, originally filed with the Securities and Exchange Commission (the "SEC") on May 14, 2025, and (ii) the Company's unaudited consolidated financial statements as of and for the three and six months ended December 31, 2024, contained in its Quarterly Report on Form 10-Q for the quarter ended December 31, 2024, originally filed with the SEC on February 14, 2025 (collectively, the "Prior Financial Statements"), should no longer be relied upon. The errors and corrective adjustments identified by the Company are non-cash in nature and resulted from the migration, in November 2023, of equity awards data to a new information recording system used to calculate the Company's share-based compensation expense, which was incorrectly configured resulting in understatements of share-based compensation expense, which in turn led to understatements of additional paid-in capital, accumulated deficit, net loss and loss per share. The impact was immaterial to the Company's previously issued financial statements prior to the quarter ended December 31, 2024, but the cumulative impact of the incorrect configuration had a material

Forward Looking Statements

Forward Looking Statements This Current Report contains forward-looking statements that are subject to a number of risks and uncertainties, many of which are beyond our control. All statements, other than statements of historical fact included in this Current Report, are forward-looking statements. Such forward looking statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. These risks, uncertainties and factors include the risks detailed under the caption "Risk Factors" in the Company's most recently filed Annual Report on Form 10-K and in other reports filed with the SEC. Although we believe we have a reasonable basis for each forward-looking statement contained in this Current Report, we caution you that these statements are based on a combination of facts and important factors currently known by us and our expectations of the future, about which we cannot be certain. We have based the forward-looking statements included in this Current Report on information available to us on the date thereof and, except as required by law, we undertake no obligation to revise or update any forward-looking statements.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BENITEC BIOPHARMA INC. Date: September 12, 2025 By: /s/ Dr. Jerel A. Banks Dr. Jerel A. Banks Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR