BiomX Announces Compliance with NYSE Guidelines on Audit Opinion Disclosure
Rhea-AI Summary
BiomX Inc. (NYSE American: PHGE), a clinical-stage company focused on phage therapies, has disclosed that its independent registered public accounting firm included a going concern qualification in their audit opinion for the fiscal year ended December 31, 2024. This disclosure, which was previously included in the Company's annual report on Form 10-K filed on March 25, 2025, is being announced separately to comply with NYSE American Company Guide Sections 401(h) and 610(b). The company emphasizes that this announcement does not represent any changes or amendments to their 2024 audited financial statements or annual report.
Positive
- None.
Negative
- Received going concern qualification from auditors, indicating substantial doubt about company's ability to continue operations
- Potential financial stability issues suggested by the going concern opinion
News Market Reaction – PHGE
In the trading session that priced this news, PHGE declined 11.28%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
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NESS ZIONA, Israel, April 01, 2025 (GLOBE NEWSWIRE) -- BiomX Inc. (NYSE American: PHGE) (“BiomX” or the “Company”), a clinical-stage company advancing novel natural and engineered phage therapies that target specific pathogenic bacteria, announced that, as previously disclosed in its annual report on Form 10-K for the fiscal year ended December 31, 2024, which was filed with the Securities and Exchange Commission on March 25, 2025, the audit opinion contained a going concern qualification from the Company's independent registered public accounting firm. This announcement is being made solely to comply with the NYSE American Company Guide Sections 401(h) and 610(b), which require separate disclosure of receipt of an audit opinion that contains a going concern qualification. This announcement does not represent any change or amendment to the Company's 2024 audited financial statements or to its 2024 annual report on Form 10-K.
About BiomX
BiomX is a clinical-stage company leading the development of natural and engineered phage cocktails and personalized phage treatments designed to target and destroy harmful bacteria for the treatment of chronic diseases with substantial unmet needs. BiomX discovers and validates proprietary bacterial targets and applies its BOLT (“BacteriOphage Lead to Treatment”) platform to customize phage compositions against these targets. For more information, please visit https://www.biomx.com/, the content of which does not form a part of this press release.
Contacts:
BiomX Inc.
Ben Cohen
Head Corporate Communications
benc@biomx.com
