Portage Biotech Appoints New Auditor Following Marcum Resignation

An announcement from Portage Biotech Inc ( (PRTG) ) is now available.

On May 29, 2025, Portage Biotech Inc. announced that Marcum LLP resigned as its independent registered accounting firm, and CBIZ CPAs P.C. was appointed as the new auditor with the approval of the company’s Audit Committee. This change follows CBIZ CPAs’ acquisition of Marcum’s attest business in November 2024. The transition is significant for Portage Biotech as it addresses a material weakness in their financial controls, which was previously disclosed in their annual report. The resignation and new appointment aim to strengthen the company’s financial reporting and auditing processes, potentially impacting its operational transparency and stakeholder confidence.

Spark’s Take on PRTG Stock

According to Spark, TipRanks’ AI Analyst, PRTG is a Neutral.

Portage Biotech Inc. exhibits significant financial weaknesses, such as no revenue and persistent losses, which heavily weigh down the overall score. Despite strong technical indicators suggesting bullish momentum, the poor valuation metrics and financial performance hinder the stock’s attractiveness. The absence of earnings call data or notable corporate events leaves these factors out of consideration.

To see Spark’s full report on PRTG stock, click here.

More about Portage Biotech Inc

Portage Biotech Inc. is a company operating in the biotechnology industry, focusing on the development of innovative therapies and treatments. The company is headquartered in the British Virgin Islands and is involved in research and development within the pharmaceutical sector.

Average Trading Volume: 1,389,369

Technical Sentiment Signal: Sell

Current Market Cap: $8.95M

For detailed information about PRTG stock, go to TipRanks’ Stock Analysis page.