Ocugen Appoints New Auditor, Dismisses PricewaterhouseCoopers
Ticker: OCGN · Form: 8-K · Filed: Jul 8, 2024 · CIK: 1372299
| Field | Detail |
|---|---|
| Company | Ocugen, INC. (OCGN) |
| Form Type | 8-K |
| Filed Date | Jul 8, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: auditor-change, accounting
TL;DR
Ocugen ditches PwC for BDO USA as its auditor.
AI Summary
Ocugen, Inc. announced on July 2, 2024, a change in its certifying accountant. The company has dismissed PricewaterhouseCoopers LLP as its independent registered public accounting firm and has appointed BDO USA, P.A. as its new principal independent registered public accounting firm, effective immediately.
Why It Matters
A change in auditors can sometimes signal underlying issues or a desire for a fresh perspective on financial reporting, which may be of interest to investors.
Risk Assessment
Risk Level: medium — Changes in auditors can sometimes precede or coincide with financial restatements or other disclosures that may impact stock price.
Key Players & Entities
- Ocugen, Inc. (company) — Registrant
- PricewaterhouseCoopers LLP (company) — Dismissed Certifying Accountant
- BDO USA, P.A. (company) — Appointed Certifying Accountant
- July 2, 2024 (date) — Date of Earliest Event Reported
FAQ
When was the change in certifying accountant effective?
The change in certifying accountant was effective immediately as of July 2, 2024.
What was the reason for dismissing PricewaterhouseCoopers LLP?
The filing does not explicitly state the reason for the dismissal of PricewaterhouseCoopers LLP.
Has Ocugen, Inc. had any disagreements with PricewaterhouseCoopers LLP?
The filing states that there were no disagreements or reportable events with PricewaterhouseCoopers LLP.
What is the address of Ocugen, Inc.'s principal executive office?
Ocugen, Inc.'s principal executive office is located at 11 Great Valley Parkway, Malvern, Pennsylvania 19355.
Who is Ocugen, Inc.'s new principal independent registered public accounting firm?
Ocugen, Inc.'s new principal independent registered public accounting firm is BDO USA, P.A.
Filing Stats: 849 words · 3 min read · ~3 pages · Grade level 13 · Accepted 2024-07-08 16:31:01
Key Financial Figures
- $0.01 — nge on which registered Common Stock, $0.01 par value per share OCGN The Nasdaq
Filing Documents
- tm2419015d1_8k.htm (8-K) — 29KB
- tm2419015d1_16-1.htm (EX-16.1) — 3KB
- 0001104659-24-078321.txt ( ) — 201KB
- ocgn-20240702.xsd (EX-101.SCH) — 3KB
- ocgn-20240702_lab.xml (EX-101.LAB) — 33KB
- ocgn-20240702_pre.xml (EX-101.PRE) — 22KB
- tm2419015d1_8k_htm.xml (XML) — 3KB
01. Changes in Registrant's Certifying
Item 4.01. Changes in Registrant's Certifying Accountant. Newly Engaged Independent Registered Public Accounting Firm As previously reported, the Audit Committee of the Board of Directors ("Board") of Ocugen, Inc. (the "Company") authorized management to initiate a strategic request-for-proposal process soliciting proposals from accounting firms to provide audit services to the Company as its independent registered public accounting firm for the fiscal year ending December 31, 2024. Management requested proposals from several independent registered public accounting firms, including Ernst & Young LLP ("EY"), the Company's current independent registered public accounting firm, in the process . As previously reported, EY notified the Company of its decision to decline to participate in the request-for-proposal process and to decline to stand for re-election as the Company's independent registered public accounting firm for fiscal year 2024, which decision was not the result of any disagreement with the Company. As a result of this process and in connection with evaluating the proposals from the participating firms, on July 2, 2024, the Board approved the appointment of PricewaterhouseCoopers LLP ("PwC") as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2024 as EY will cease providing services following the filing of the Company's Form 10-Q for the quarter ending June 30, 2024. During the two most recent fiscal years ended December 31, 2023 and 2022 and the subsequent interim period through July 2, 2024, neither the Company nor anyone on its behalf consulted with PwC with respect to (a) the application of accounting principles to a specified transaction, either completed or proposed, or the type of audit opinion that might be rendered on the Company's consolidated financial
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. The following exhibits are being filed herewith: (d) Exhibits Exhibit No. Document 16.1 Letter from Ernst & Young LLP to the U.S. Securities and Exchange Commission, dated July 8, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). SIGNATURE 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. Date: July 8, 2024 OCUGEN, INC. By: /s/ Shankar Musunuri Name: Shankar Musunuri Title: Chairman, Chief Executive Officer, & Co-Founder