Home News Silicon Valley biopharmaceutical company files for Chapter 11 bankruptcy

Silicon Valley biopharmaceutical company files for Chapter 11 bankruptcy

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Silicon Valley biopharmaceutical company files for Chapter 11 bankruptcy

 By Jonathan Randles | Bloomberg

Eiger Biopharmaceuticals Inc., a company developing therapies for rare metabolic diseases, has filed for bankruptcy.

Publicly traded Eiger listed about $38.8 million in assets and $53.1 million in liabilities in a Chapter 11 petition filed Monday in Dallas. The bankruptcy filing will give Eiger time to discuss restructuring options with its creditors.

The stock fell as much as 51% after Bloomberg reported the filing. In bankruptcy, equity is last in line for repayment and shareholders are usually wiped out.



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