Bio-Path Holdings dismisses Ernst & Young as auditor, seeks new firm

Bio-Path Holdings, Inc. (NASDAQ:BPTH) announced Wednesday that its board of directors has approved the dismissal of Ernst & Young LLP as its independent registered public accounting firm, effective the same day. The company notified Ernst & Young of the decision on Wednesday.

According to a statement in the SEC filing, Ernst & Young’s reports on Bio-Path Holdings’ financial statements for the fiscal years ended December 31, 2024 and 2023 did not include adverse opinions or disclaimers of opinion, and were not qualified or modified as to uncertainty, audit scope, or accounting principles, except for an explanatory paragraph about the company’s ability to continue as a going concern.

The filing states that during the two most recent fiscal years and the interim period through Wednesday, there were no disagreements between Bio-Path Holdings and Ernst & Young on accounting principles, financial statement disclosure, or auditing procedures. The company also reported there were no other reportable events as defined by SEC regulations.

Bio-Path Holdings has provided Ernst & Young with a copy of these disclosures and requested a letter from the firm addressed to the SEC stating whether it agrees with the statements. The letter from Ernst & Young is included as an exhibit to the filing.

The company is actively seeking a new independent registered public accounting firm and intends to engage one as soon as practicable. Bio-Path Holdings stated it will file a new Form 8-K to disclose the engagement once a new auditor is appointed. For a comprehensive analysis of Bio-Path Holdings’ financial position and future prospects, investors can access the detailed Pro Research Report available on InvestingPro, which provides expert insights and key metrics for over 1,400 US stocks.

This information is based on a press release statement included in the company’s Form 8-K filing with the Securities and Exchange Commission.

In other recent news, Bio-Path Holdings, Inc. has announced significant changes in its executive leadership and operations. The company reported a series of high-level resignations, including that of Peter H. Nielsen, who stepped down from his roles as President, Chief Executive Officer, Chief Financial Officer, Treasurer, Principal Accounting Officer, Chairman of the Board, and as a board member. Additionally, board members Heath Cleaver and Aline Sherwood also resigned, with both clarifying that their departures were not due to any disagreements with the company or its board. Alongside these leadership changes, Bio-Path Holdings has initiated a company-wide operational pause. These developments were disclosed in a press release filed with the Securities and Exchange Commission.

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