A Littleton, CO, sleep apnea medtech was supposed to hold its Q2 earnings call on Aug. 15, then Aug. 22 and now maybe not for weeks.
It could take “several weeks” before Vivos Therapeutics resolves issues with a “technical reevaluation of our revenue recognition policy,” the company said Monday after the closing bell. Vivos CEO Kirk Huntsman said the delay is “unrelated to the overall health” of the company.
“We were recently advised by our independent registered public accountants about a potential need to reevaluate how and when we recognize enrollment fees charged to new Vivos Integrated Providers (VIPs) and the related performance obligations that are included in VIP enrollments as revenue under ASC Topic 606,” the company said in its Monday statement.
The company is “hopeful” that the result of the auditors’ and independent consultants’ work will not lead to any material impact on “current or prior results of operations.”
Huntsman said Vivos thinks it has moved beyond the worst days of Covid-19’s impact and can keep the lights on until early 2024.
Erasca strengthens its bond with MD Anderson investigators
A San Diego-based precision oncology biotech will team up with MD Anderson Cancer Center to research and develop multiple cancer drugs.
Erasca and the famed Texas research center will work on monotherapies and potential combination therapies that target the RAS/MAPK pathway, the duo announced Tuesday morning.
The first part of the five-year tie-up is geared toward Erasca’s ERK1/2 inhibitor, dubbed ERAS-007, and the SHP2 inhibitor ERAS-601.
That first asset is already in multiple clinical trials across non-small cell lung cancer and gastrointestinal malignancies. The other drug is in various clinical studies of patients with colorectal cancer, NSCLC, and HPV-negative head and neck squamous cell carcinoma.
MD Anderson investigators Scott Kopetz and David Hong are already familiar with the biotech, as they are involved in some of Erasca’s clinical studies.
Per the agreement, the pair will team up on preclinical and clinical studies across NSCLC, GI malignancies and “additional mutually agreed-upon indications.”