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Channel Therapeutics Provides Announcement on 2024 Annual Report to Comply with NYSE American Listing Rules

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Channel Therapeutics (NYSE American: CHRO), a company focused on developing non-opioid pain treatment therapeutics, announced that its 2024 Annual Report filed on March 27, 2025, included an audit opinion with a going concern emphasis of matter paragraph from its independent registered public accounting firm. This disclosure is required by NYSE American LLC Company Guide Sections 410(h) and 610(b). The company clarified that this announcement does not represent any changes or amendments to their consolidated financial statements or their 2024 Annual Report.

Channel Therapeutics (NYSE American: CHRO), un'azienda specializzata nello sviluppo di terapie per il trattamento del dolore non oppioide, ha annunciato che il suo Rapporto Annuale 2024, depositato il 27 marzo 2025, include un parere di revisione con un paragrafo di enfasi sulla continuità aziendale da parte della sua società di revisione contabile indipendente registrata. Questa comunicazione è richiesta dalle sezioni 410(h) e 610(b) della Guida per le società di NYSE American LLC. L'azienda ha chiarito che questo annuncio non comporta modifiche o integrazioni ai loro bilanci consolidati o al Rapporto Annuale 2024.

Channel Therapeutics (NYSE American: CHRO), una empresa dedicada al desarrollo de tratamientos terapéuticos para el dolor no opioides, anunció que su Informe Anual 2024 presentado el 27 de marzo de 2025 incluye una opinión de auditoría con un párrafo de énfasis en la continuidad operativa emitido por su firma independiente de contadores públicos registrados. Esta divulgación es requerida por las secciones 410(h) y 610(b) de la Guía de Compañías de NYSE American LLC. La empresa aclaró que este anuncio no representa cambios o enmiendas a sus estados financieros consolidados ni a su Informe Anual 2024.

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Channel Therapeutics (NYSE American : CHRO), une société spécialisée dans le développement de traitements thérapeutiques contre la douleur non opioïdes, a annoncé que son rapport annuel 2024, déposé le 27 mars 2025, comportait une opinion d'audit incluant un paragraphe d'accentuation sur la continuité d'exploitation émanant de son cabinet d'expertise comptable indépendant enregistré. Cette divulgation est exigée par les sections 410(h) et 610(b) du guide des sociétés de NYSE American LLC. La société a précisé que cette annonce ne constitue pas une modification ou un amendement de ses états financiers consolidés ni de son rapport annuel 2024.

Channel Therapeutics (NYSE American: CHRO), ein Unternehmen, das sich auf die Entwicklung von nicht-opioid-basierten Schmerztherapeutika spezialisiert hat, gab bekannt, dass sein am 27. März 2025 eingereichter Jahresbericht 2024 eine Prüfungsmeinung mit einem Hinweis zur Unternehmensfortführung von seiner unabhängigen registrierten Wirtschaftsprüfungsgesellschaft enthält. Diese Offenlegung ist gemäß den Abschnitten 410(h) und 610(b) des NYSE American LLC Unternehmenshandbuchs erforderlich. Das Unternehmen stellte klar, dass diese Bekanntmachung keine Änderungen oder Ergänzungen der konsolidierten Finanzberichte oder des Jahresberichts 2024 darstellt.

Positive
  • None.
Negative
  • Going concern warning from auditors indicates substantial doubt about the company's ability to continue operations
  • Potential risk of NYSE American delisting if financial condition doesn't improve

FREEHOLD, N.J., May 01, 2025 (GLOBE NEWSWIRE) -- Channel Therapeutics Corporation, (“Channel� or the “Company�), (NYSE American: CHRO), a pioneer in the development of non-opioid pain treatment therapeutics, today advises that, as previously disclosed in its Annual Report on Form 10-K for the year ended December 31, 2024 filed with the Securities and Exchange Commission on March 27, 2025, the audited financial statements contained an audit opinion from its independent registered public accounting firm that included a going concern emphasis of matter paragraph.

Release of this information is required by Sections 410(h) and 610(b) of the NYSE American LLC Company Guide. This announcement does not represent any change or amendment to the Company's consolidated financial statements or to its Annual Report on Form 10-K for the year ended December 31, 2024.

About Channel

Channel Therapeutics Corporation is a clinical-stage biotechnology company focused on developing and commercializing novel, non-opioid, non-addictive therapeutics to alleviate pain. The Company’s initial clinical focus is to selectively target the sodium ion-channel known as NaV1.7 for the treatment of various types of chronic pain, acute and chronic eye pain and post-surgical nerve blocks. For company updates and to learn more about Channel, visit or follow us on social media.

Channel Media and Investor Inquires:

For Investor Inquiries:
Mike Moyer
Managing Director, LifeSci Advisors, LLC


FAQ

What does the going concern warning mean for Channel Therapeutics (CHRO) stock?

A going concern warning indicates that auditors have substantial doubt about the company's ability to continue operations, which could negatively impact investor confidence and stock price.

Why did Channel Therapeutics (CHRO) receive a going concern warning in their 2024 annual report?

The going concern warning was included in Channel Therapeutics' 2024 annual report by their independent auditors, suggesting significant concerns about the company's financial stability and ability to continue operations.

Could Channel Therapeutics (CHRO) be delisted from NYSE American due to the going concern warning?

While a going concern warning alone doesn't trigger immediate delisting, it could lead to delisting if Channel Therapeutics fails to meet NYSE American's continued listing requirements regarding financial condition.

What are the NYSE American listing requirements that Channel Therapeutics (CHRO) needs to comply with?

According to Sections 410(h) and 610(b) of the NYSE American LLC Company Guide, companies must disclose when their annual report contains a going concern emphasis of matter paragraph from auditors.
Channel Therapeutics Corporation

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7.75M
3.05M
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12.8%
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Biotechnology
Biological Products, (no Disgnostic Substances)
United States
NORTH BRUNSWICK