Overview
SkinBioTherapeutics Plc (LON:SBTX), a Newcastle-based life sciences company, said on Friday that it cannot meet the AIM Rules for Companies requirement to publish its interim results for the half-year ending 2026 by the March 31 deadline because a forensic board review is still under way. The announcement added that trading in the company's ordinary shares is expected to be suspended from April 1 and remain halted until the investigation is complete and the interim results are released. The stock fell more than 27% on the news.
What the company said
In a regulatory filing, the board indicated that although there has been progress, the forensic review has not concluded and therefore the company will not be in a position to announce the interim results by 31 March 2026, as required by the AIM Rules for Companies. The filing stated that trading in ordinary shares is expected to be stopped from April 1 and will stay suspended until the review concludes and the interim results are published.
The board appointed FRP Advisory on February 20 to carry out the forensic review into matters the company first disclosed on February 16. The filing offered no further detail on the substance of those matters and did not provide a timetable for when the review will complete. The board said it will update shareholders "as soon as possible."
Financial position and operations
SkinBioTherapeutics reported a cash balance of as of March 19 and said it was continuing to operate on a "business as usual" basis. The filing did not disclose any revenue or earnings figures for the HY26 period.
Analytical context
The appointment of FRP Advisory on February 20 formalised a forensic board-level review into the items the company first referenced on February 16. Friday's regulatory update reiterated that the nature of the matters under review remains unspecified in the public filing, and it offered no fresh timeline or substantive update beyond the statement that the review is ongoing. The board committed to providing updates to shareholders as soon as further information is available.
Investor-facing note
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