SciClone Pharma +17.3% as Aegis sees no impact from auditor change

SciClone Pharma (SCLN +17.3%) surges as Aegis Capital maintains its Buy rating and $8 price target amid the recent change in its principal auditor.

PwC China replaced PwC U.S. as SCLN's auditor on Jan. 24, which the firm says complies with the guidelines of the Public Company Accounting Oversight Board as operations are almost exclusively in China and PwC China is the principal auditor under applicable auditing standards.

The firm notes there is no disagreement between SCLN and PwC U.S., and the transition should cause no disruption in the auditing process.

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