PharmaCyte Fires Auditor CBIZ, Hires Grassi Amid Material Weaknesses and Nasdaq Delisting Risk
PMCB is trading near its 52-week low of $0.334 (1.9% above the low) on light trading volume (0.2× avg).
Summary
PharmaCyte dismissed CBIZ CPAs and engaged Grassi & Co. as its new auditor effective October 14, 2026, with the only reportable events being previously disclosed material weaknesses in internal controls. The change lands while the company faces a November 30, 2026 Nasdaq deadline to regain the $1.00 minimum bid price.
Key Events · Corporate Governance and Compliance · PMCB
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Auditor Dismissed and Replaced
The Audit Committee dismissed CBIZ CPAs P.C. and engaged Grassi & Co., CPAs, P.C. as independent registered public accounting firm, both effective October 14, 2026.
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No Disagreements, But Material Weaknesses Cited
CBIZ's reports for FY2026 and FY2025 were unqualified, and there were no disagreements; the only reportable events were previously disclosed material weaknesses in internal control over financial reporting related to insufficient segregation of duties of the CFO and insufficient management review controls.
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New Auditor Scope and Timing
Grassi will audit the fiscal year ending April 30, 2027 and review interim financial statements beginning with the quarter ending October 31, 2026.
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Nasdaq Delisting Deadline Looms
The company must regain the $1.00 minimum bid price by November 30, 2026, per the previously disclosed 10-Q, with the stock currently trading near its 52-week low of $0.3339.
Analysis · PMCB · Life Sciences
PharmaCyte dismissed CBIZ CPAs as its independent auditor on October 14, 2026 and immediately engaged Grassi & Co. as its replacement. The dismissal was not driven by a disagreement over accounting principles or an adverse audit opinion, but the filing confirms the only reportable events were the material weaknesses in internal control over financial reporting previously disclosed in the FY2026 and FY2025 10-Ks — insufficient segregation of duties of the CFO and insufficient management review controls. An auditor change at a company this small, already carrying material weaknesses and facing a Nasdaq delisting deadline of November 30, 2026 to regain the $1.00 minimum bid price, is a governance red flag: it adds execution risk to the audit and financial reporting process at the exact moment the company needs clean financials to support any compliance or capital-raising effort. The stock trades near its 52-week low of $0.3339, so the market has little cushion for further governance concerns.
How filings like this one have moved
In the 30 days to Oct 16, 2026, 36.9% of the 961 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.57%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, PMCB was trading at $0.34 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $3.7M. The 52-week trading range was $0.33 to $1.51. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.