Cardiogeni (LSE:CGNI), the UK clinical-stage biotechnology company developing heart regeneration therapies, said trading in its shares on the Aquis Stock Exchange Growth Market was suspended from 7.30am on 1 October.
The suspension follows a delay in publishing its audited annual accounts for the year ended 31 March, which the company had been due to release by 30 September.
Cardiogeni attributed the delay to auditor resourcing constraints, which led to the appointment of a new auditor, HaysMac, later in the process than usual.
The company, founded by 2007 Nobel Laureate Sir Martin Evans, is advancing its lead candidate CLXR-001, an engineered cellular therapy administered during coronary artery bypass grafting, through a randomised controlled trial, with interim data expected within 30 months of its Admission.
Cardiogeni said the audit is progressing well and it expects to publish the accounts in the second half of October, at which point it will seek restoration of trading.