EIGR - Metabolic Diseases-Focused Eiger BioPharmaceuticals Files For Bankruptcy Stock Nosedives | Benzinga
Monday, Eiger BioPharmaceuticals Inc (NASDAQ:EIGR) announced that it and its direct subsidiaries have filed voluntary petitions for Chapter 11 protection in the U.S. Bankruptcy Court for the Northern District of Texas.
The company also announced a “stalking horse” agreement to sell Zokinvy (lonafarnib) to Sentynl Therapeutics Inc., a biopharmaceutical company focused on rare diseases.
Under the terms of the “stalking horse” agreement, subject to court approval, Sentynl Therapeutics will pay up to $26.0 million, subject to certain purchase price adjustments, including per diem reductions, if the ...