05:17 PM EDT, 09/18/2024 (MT Newswires) -- Repligen ( RGEN ) said product revenue from a COVID-related payment cancellation wasn't "recognized appropriately" and results for fiscal quarters ending March 31, 2023, through June 30, 2024, and the year ended Dec. 31, 2024, require restatement.

"The restatement changes the timing of recognition of revenue but does not change the total revenue recognized for this payment," Repligen ( RGEN ) said Wednesday in a regulatory filing.

"The company does not anticipate the restatement will have any impact" on overall business operations, previously reported cash and cash equivalent balances and strategic outlook, according to the filing.

Shares of the company fell 1.8% in recent after-hours activity.

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