Auditor dismissals, especially when the prior auditor flagged going-concern issues, often precede adverse financial developments. Monitor the next 10-K for the new auditor's opinion and any further material weakness disclosures.
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Executive Summary
Hepion Pharmaceuticals dismissed its auditor, Grassi & Co., and engaged Rosenberg Rich Baker Berman P.A. as its new independent registered public accounting firm. The change was approved by the audit committee on September 21, 2026, and is effective immediately. The prior auditor's reports included a going-concern explanatory paragraph, and the company has disclosed material weaknesses in internal controls, but no disagreements on accounting principles were reported.
Key Facts
- Auditor change: Grassi & Co. dismissed, RRBB engaged effective September 22, 2026.
- Prior auditor reports included a going-concern explanatory paragraph due to significant operating losses and negative cash flows since inception.
- No disagreements on accounting principles or practices between the company and Grassi.
- Material weaknesses in internal control over financial reporting were disclosed in prior annual and quarterly reports.
- The company's common stock trades on the OTC QB market under symbol HEPA.
Financial Impact
No specific financial figures provided in the filing; the change itself signals elevated audit risk and potential financial distress.
Risk Factors
- Going-concern risk remains elevated given the prior auditor's explanatory paragraph.
- Material weaknesses in internal controls may persist or worsen under the new auditor.
- Potential for further financing difficulties or covenant breaches if cash burn continues.
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001493152-26-044432 |
| Exhibit: ex16-1.htm | 0001493152-26-044432 |
| Document: 0001493152-26-044432-index-headers.html | 0001493152-26-044432 |
| Document: 0001493152-26-044432-index.html | 0001493152-26-044432 |
| Document: 0001493152-26-044432.txt | 0001493152-26-044432 |
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Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 today | SC 13D | — | awaiting T+20 | — | — |
Oct 21, 2026 5d ago | SC 13G/A | $0.1350 | awaiting T+20 | — | $0.1281 (−5.11%) |
Oct 9, 2026 17d ago | 8-K | $0.1240 | awaiting T+20 | — | $0.1281 (+3.31%) |
Sep 28, 2026 28d ago | 8-K | $0.0800 $0.1281 | ▼ −60.13% | ▼ −60.16% | $0.1281 (−60.12%) |
Aug 12, 2026 10w ago | Insider Cluster | $0.0700 $0.0550 | ▼ −21.43% | ▼ −19.68% | $0.1281 (+83.00%) |
Apr 21, 2026 27w ago | Insider Cluster | $0.0700 $0.0750 | ▲ +7.14% | ▲ +1.67% | $0.1281 (+83.00%) |
Apr 21, 2026 27w ago | Insider Cluster | $0.0620 $0.0750 | ▲ +20.97% | ▲ +16.01% | $0.1281 (+106.61%) |
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