Aequus Announces Delay in Filing Annual Financial Statements
Aequus Pharmaceuticals Inc. (AQSZF) announced a delay in filing its audited annual financial statements for the fiscal year ending December 31, 2021, originally due on May 2, 2022.
The delay is attributed to prolonged audit procedures and delayed responses from third parties. The company expects to file the required documents by May 6, 2022, and will provide updates as needed.
Aequus focuses on developing specialized pharmaceutical products, particularly in ophthalmology and transplant, aiming to enhance its commercial platform through new product launches.
- Company aims to expedite filing of annual financial statements, demonstrating proactive management.
- Focus on developing specialized pharmaceutical products may enhance future revenue potential.
- Delay in filing annual financial statements could raise concerns among investors about the company's operational efficiency.
- Audit delays may indicate potential issues in financial reporting or internal processes.
VANCOUVER, British Columbia, May 02, 2022 (GLOBE NEWSWIRE) -- Aequus Pharmaceuticals Inc. (TSX-V: AQS, OTCQB: AQSZF) (“Aequus” or the “Company”) announces that the filing of its audited annual financial statements for the fiscal year ended December 31, 2021 and its management’s discussion and analysis relating to the Annual Financial Statements (collectively, the “Annual Disclosure”) will be delayed beyond the filing deadline of May 2, 2022.
The Company’s late filing of the Annual Disclosure is due to delays in its audit procedure and receiving timely responses to its audit requests from third parties. The Company’s management is diligently working through the various issues in order to expedite the finalization of the Annual Disclosure.
The Company fully expects to file the Annual Disclosure on or before Friday, May 6, 2022, and intends to provide updates on further developments in respect of this matter promptly following their occurrence.
About Aequus Pharmaceuticals Inc.
Aequus Pharmaceuticals Inc. (TSX-V: AQS, OTCQB: AQSZF) is a growing specialty pharmaceutical company focused on developing and commercializing high quality, differentiated products. Aequus has grown its sales and marketing efforts to include several commercial products in ophthalmology and transplant. Aequus plans to build on its Canadian commercial platform through the launch of additional products that are either created internally or brought in through an acquisition or license; remaining focused on highly specialized therapeutic areas. For further information, please visit www.aequuspharma.ca.
Forward-Looking Statements
This release may contain forward-looking statements or forward-looking information under applicable Canadian securities legislation that may not be based on historical fact, including, without limitation, statements containing the words “believe”, “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “potential” and similar expressions. Forward- looking statements are necessarily based on estimates and assumptions made by us in light of our experience and perception of historical trends, current conditions and expected future developments, as well as the factors we believe are appropriate. Forward-looking statements include but are not limited to statements relating to: the completion of the Company’s audit; the completion and anticipated filing date of the Annual Disclosure; the ability of the Company to obtain audit responses from third parties; and the Company’s issuance of biweekly default status reports. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties and are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Aequus, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause our actual results, performance or achievements to be materially different from any future results, performance, or achievements that may be expressed or implied by such forward-looking statements. In making the forward looking statements included in this release, the Company has made various material assumptions. In evaluating forward looking statements, current and prospective shareholders should specifically consider various factors set out herein and under the heading “Risk Factors” in the Company’s final short-form prospectus dated November 5, 2021, and annual information form dated April 30, 2021, copies of which are available on Aequus’ profile on the SEDAR website at www.sedar.com, and as otherwise disclosed from time to time on Aequus’ SEDAR profile. Should one or more of these risks or uncertainties, or a risk that is not currently known to us materialize, or should assumptions underlying those forward-looking statements prove incorrect, actual results may vary materially from those described herein. These forward-looking statements are made as of the date of this release and we do not intend, and do not assume any obligation, to update these forward-looking statements, except as required by applicable securities laws. Investors are cautioned that forward-looking statements are not guarantees of future performance and are inherently uncertain. Accordingly, investors are cautioned not to put undue reliance on forward looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information:
Aequus Investor Relations
Email: investors@aequuspharma.ca
Phone: 604-336-7906
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