Sunshine Biopharma appoints M&K CPAS as new independent auditor

Sunshine Biopharma Inc. (NASDAQ:SBFM), a $6.77 million market cap biotech company with annual revenues of $36.34 million, has changed its independent registered public accounting firm, according to a statement released Tuesday based on a recent SEC filing.

Effective September 24, the company’s board of directors and audit committee unanimously approved the dismissal of Bush & Associates CPA LLC and the appointment of M&K CPAS, PLLC as its new independent auditor. Sunshine Biopharma stated there were no disagreements with Bush & Associates regarding accounting principles, financial statement disclosures, or auditing procedures during the fiscal years ended December 31, 2023 and 2024, or during the subsequent interim period through September 24, 2025.

The audit reports from Bush & Associates for the years ended December 31, 2023 and 2024 did not contain any adverse opinions, disclaimers of opinion, or modifications related to uncertainty, audit scope, or accounting principles.

The company also reported that neither it nor anyone acting on its behalf consulted with M&K regarding the application of accounting principles to a specific transaction or the type of audit opinion that might be rendered on the company’s financial statements before the appointment.

Sunshine Biopharma has provided Bush & Associates with a copy of the disclosures in the SEC filing and requested a letter addressed to the Securities and Exchange Commission confirming agreement with the statements made. As of the filing date, this letter had not yet been received, and the company indicated it will file the letter as an amendment once available.

This information is based on a press release statement included in the company’s recent SEC filing.

In other recent news, Sunshine Biopharma Inc. announced the launch of its first biosimilar drug in the Canadian market through its subsidiary, Nora Pharma Inc. The newly introduced product, NIOPEG, is comparable to the reference biologic drug NEULASTA, which is used to decrease infection incidence in patients undergoing chemotherapy for non-myeloid malignancies. NIOPEG is available in a prefilled 6mg/0.6mL syringe format. This development marks a significant step for Sunshine Biopharma in the biosimilar drug market, highlighting their expansion efforts. The release of NIOPEG is a notable addition to the company’s portfolio and could potentially influence their market presence in Canada. These recent developments underscore Sunshine Biopharma’s commitment to advancing its product offerings in the pharmaceutical sector.

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