Revenue restated in the financials but not flagged in the narrative
The 2023 MD&A booked $4.0M of Merevix milestones as revenue in full. The 2024 financials quietly restate that and defer $2.1M of it — but the cover-page narrative never mentions a restatement.
WarningContradiction
Evidence
“Revenue for the year was $18.0 million, including $4.0 million of milestone payments from Merevix recognized in full upon receipt during Q3 2023.”
“Comparative figures for the year ended December 31, 2023 have been restated to defer $2,100 of milestone revenue previously recognized in Q3 2023.”
Triggering filings
| Filed | Type | Title |
|---|---|---|
| Mar 30, 2024 | MD&A | Management's Discussion & Analysis — Year ended December 31, 2023 |
| Mar 28, 2025 | MD&A | Management's Discussion & Analysis — Year ended December 31, 2024 |
| Mar 28, 2025 | Annual Financial Statements | Audited Annual Financial Statements — Year ended December 31, 2024 |
| Apr 30, 2026 | MD&A | Management's Discussion & Analysis — Q1 2026 |
Metadata
- Issuer
- Cascade BioSciences Inc.
- Score
- 74
- Status
- In review · k.singh
- Raised
- Mar 29, 2025 · 475d
- Assignee
- k.singh
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