SkinBioTherapeutics (LSE:SBTX) said its board has completed an investigation into the company’s financial statements for the year ended 30 June 2025 and is preparing to publish its delayed interim HY26 results together with restated, unaudited FY25 accounts.
The company noted that trading in its shares, which remains suspended, is expected to resume once the outstanding financial information and related remedial measures have been released. Publication has taken longer than initially anticipated, extending beyond the original end-May timetable due to challenges encountered while gathering supporting evidence during the review process.
New Auditor Appointed Following Tender Process
Alongside the update, SkinBioTherapeutics confirmed the appointment of Saffrey LLP as its new independent auditor for the financial year ending 30 June 2026. The appointment follows a formal competitive tender exercise conducted by the board.
Outgoing auditor Gravita Audit II Limited stated that there were no matters requiring attention from shareholders or creditors in connection with its departure. The company said this confirmation should help support efforts to rebuild investor confidence in its financial reporting standards and corporate governance procedures.
Governance Improvements Follow Period of Uncertainty
Management is aiming to restore stability following the accounting review and share suspension, with the upcoming publication of revised results expected to provide greater clarity on the company’s financial position and future direction.
The company’s outlook is held back primarily by ongoing unprofitability and weak cash flows, despite strong revenue growth and a relatively conservative balance sheet. Technicals also remain bearish with the stock trading below major moving averages and negative MACD, while valuation is constrained by losses (negative P/E) and no dividend yield support.
More about SkinBioTherapeutics
SkinBioTherapeutics is a UK-based life science company focused on skin health, built around its proprietary SkinBiotix platform developed with the University of Manchester. Its core business targets the skin healthcare market across five pillars, led by cosmetic skincare via partner Croda’s Zenakine-branded actives and AxisBiotix food supplements for inflammatory skin conditions, sold online, on Amazon and through selected Superdrug stores.
The group is also pursuing a consolidator strategy, acquiring complementary skincare and cosmetic businesses that add distribution reach, geographic presence and manufacturing capability to support its in-house product pillars. SkinBioTherapeutics has been listed on London’s AIM market since April 2017 and is headquartered in Newcastle, positioning it within the UK’s specialist life sciences and dermatology ecosystem.
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