Item 4.01. Changes in Registrants Certifying Accountant.
(a)
Dismissal of Independent Registered Public Accountant
On March 15, 2017, the Audit Committee (the
Audit Committee
) of the Board of Directors of Loxo Oncology, Inc. (the
Company
) approved the dismissal of CohnReznick LLP (
CohnReznick
) as the Companys independent registered public accountant.
CohnReznicks reports on the Companys consolidated financial statements for the fiscal years ended December 31, 2016 and 2015 did not contain any adverse opinion or disclaimer of opinion, and were not qualified or modified as to uncertainty, audit scope or accounting principles.
During the fiscal years ended December 31, 2016 and 2015, and through March 15, 2017, (i) there have been no disagreements (as that term is used in Item 304(a)(1)(iv) of Regulation S-K and the related instructions) between the Company and CohnReznick on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which, if not resolved to the satisfaction of CohnReznick would have caused CohnReznick to make reference to the subject matter of the disagreement in connection with its reports on the Companys consolidated financial statements for such years, and (ii) there were no reportable events (as that term is defined in Item 304(a)(1)(v) of Regulation S-K). The Company has given CohnReznick permission to respond fully to the inquiries of the successor auditor concerning this reportable event.
The Company has provided CohnReznick with a copy of this Form 8-K and requested that CohnReznick provide the Company with a letter addressed to the Securities and Exchange Commission stating whether or not CohnReznick agrees with the statements related to them made by the Company in this report. A copy of CohnReznicks letter, dated March 21, 2017, is attached as Exhibit 16.1 to this report.
(b)
Newly Appointed Independent Registered Public Accountant
On March 15, 2017, the Audit Committee approved the appointment of Ernst & Young LLP (
EY
) as the Companys new independent registered public accounting firm, effective immediately, to perform independent audit services for the fiscal year ending December 31, 2017.
During the fiscal years ended December 31, 2016 and 2015 and through March 15, 2017, neither the Company, nor anyone on its behalf, consulted EY regarding either (i) the application of accounting principles to a specified transaction, either completed or proposed, or the type of audit opinion that might be rendered with respect to the consolidated financial statements of the Company, in any case where a written report or oral advice was provided to the Company by EY that EY concluded was an important factor considered by the Company in reaching a decision as to any accounting, auditing or financial reporting issue; or (ii) any matter that was the subject of a disagreement (as that term is used in Item 304(a)(1)(iv) of Regulation S-K and the related instructions) or a reportable event (as that term is defined in Item 304(a)(1)(v) of Regulation S-K).