<a href="https://laohu8.com/S/BNTC">Benitec Biopharma</a> Inc. Announces Non-Reliance on Previous Financial Statements Due to Share-Based Compensation Recording Errors
Benitec Biopharma Inc. has announced a regulatory issue concerning its financial reporting. The company identified errors in the recording of non-cash share-based compensation expenses due to an incorrectly configured information recording system, which resulted in understatements of these expenses and affected additional paid-in capital, accumulated deficit, net loss, and loss per share. These errors were deemed immaterial in prior financial statements but had a material impact on the unaudited consolidated financial statements for the quarters ending December 31, 2024, and March 31, 2025. Consequently, the Audit Committee of Benitec's Board of Directors concluded that these financial statements should no longer be relied upon. The company is preparing restatements to be included in its 2025 Annual Report on Form 10-K, which it plans to file on time with the SEC.
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