ICON audit reveals $65.3M and $92.7M revenue overstatements; Secretome and Psilera announce cash raises

ICON completed an internal audit that confirmed its reported revenue had been overstated.

The audit quantified the overstatement at $65.3 million for 2023, representing about 0.8% of that year's total revenue, and $92.7 million for 2024, about 1.1% of the projected revenue.

In the same briefing, biotech firms Secretome and Psilera disclosed that they have raised additional cash, though the announcement did not include further details.