Novelion Therapeutics Inc. (NASDAQ:NVLN) Files An 8-K Changes in Registrant’s Certifying Accountant
Item 4.01 Changes in Registrants Certifying Accountant.
Novelion Therapeutics Inc. (Novelion or the Company) (formerly QLT
Inc.) completed its acquisition of Aegerion Pharmaceuticals, Inc.
(Aegerion), through the merger (the Merger) of its indirect,
wholly-owned subsidiary Isotope Acquisition Corp. (MergerCo) with
and into Aegerion, to an Agreement and Plan of Merger (as amended,
the Merger Agreement), dated as of June 14, 2016, among Novelion,
Aegerion and MergerCo. As a result of the Merger, Aegerion became
an indirect wholly-owned subsidiary of Novelion.
in recognition that the financial operations and team of Novelion
have transitioned to be primarily located in the United States
(U.S.) following the Merger, Deloitte LLP resigned as the Companys
independent registered public accounting firm and Deloitte Touche
LLP was appointed as the successor independent registered public
accounting firm. The decision to change the certifying accountant
was approved by the Audit Committee of Novelion’s Board of
Directors.
Novelions consolidated financial statements as of December 31, 2016
and 2015, and the results of their operations and cash flows for
each of the three years in the period ended December 31, 2016
contained no adverse opinion or disclaimer of opinion and were not
qualified or modified as to uncertainty, audit scope or accounting
principles, except that its report dated March 30, 2017 over the
audit of the internal control over financial reporting as of
December 31, 2016 identified a material weakness in Novelions
controls over the financial reporting process, because Novelion did
not design and maintain sufficiently precise or effective review
and approval controls over business combinations.
fiscal years and through the date of this Current Report on Form
8-K, Novelion has not had any disagreements with Deloitte LLP on
any matter of accounting principles or practices, financial
statement disclosure, or auditing scope or procedure, which
disagreements, if not resolved to the satisfaction of Deloitte LLP,
would have caused it to make reference to the subject matter of
such disagreements in its report on Novelions consolidated
financial statements for such periods. During Novelions two most
recent fiscal years and through the date of this Current Report on
Form 8-K, there have been no reportable events as described in (A)
to (D) of Item 304(a)(1)(v) of Regulation S-K adopted by the
Securities and Exchange Commission (the SEC).
Touche LLP as the Companys new independent registered public
accounting firm to audit the 2017 consolidated financial
statements. In connection with the audit of Novelions consolidated
financial statements for the years ended December 31, 2016 and
2015, and through the period ended April 11, 2017, neither Novelion
nor anyone on its behalf has consulted with Deloitte Touche LLP on
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 Companys financial statements
or any matter that was the subject of a disagreement, as that term
is defined in Item 304 (a)(1)(v) of Regulation S-K and the related
instructions to Item 304 of Regulation S-K, or a reportable event
as, that term is defined in Item 304(a)(1)(v).
LLP with a copy of these disclosures before filing them with the
SEC and has requested that Deloitte LLP provide Novelion with a
letter addressed to the SEC stating whether or not it agrees with
the above statements. Deloitte LLP has furnished such letter dated
April 12, 2017 which is filed as Exhibit 16.1 to this Current
Report on Form 8-K.
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Exhibit No.
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Description
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16.1
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Letter from Deloitte LLP, dated April 12, 2017.
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About Novelion Therapeutics Inc. (NASDAQ:NVLN)
Novelion Therapeutics Inc, formerly QLT Inc., is a Canada-based biopharmaceutical company. The Company is engaged in development of new standards of care for individuals living with rare diseases. The Company is focused on advancing its portfolio of rare disease therapies by investing in science and clinical development. The Company holds a portfolio of products through its subsidiary, Aegerion Pharmaceuticals, Inc., a biopharmaceutical company dedicated to the development and commercialization of innovative therapies for patients with debilitating rare diseases. The Company’s portfolio of products include MYALEPT and JUXTAPID. The Company is also developing zuretinol acetate for the treatment of inherited retinal disease caused by underlying mutations in RPE65 or LRAT genes. Novelion Therapeutics Inc. (NASDAQ:NVLN) Recent Trading Information
Novelion Therapeutics Inc. (NASDAQ:NVLN) closed its last trading session down -0.09 at 10.36 with 53,438 shares trading hands.
