SINGAPORE – Homegrown biotech firm Mirxes has delayed the release of its 2025 annual results after auditors flagged issues linked to certain transactions, prompting an independent probe and a trading suspension of its shares.
In an exchange filing on April 2, the Hong Kong-listed company said the delay arose during audit work by KPMG, which identified concerns involving 14 transactions tied to US$14.8 million (S$19.05 million) worth of prepayments.
The amounts were made to service providers and vendors for new projects, most of which took place in the second half of 2025.
Of the total amount flagged, about US$9.5 million has been returned by counterparties for projects that did not commence or progress as planned.
