Silicon Valley biopharmaceutical company files for Chapter 11 bankruptcy

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Eiger Biopharmaceuticals Inc., based in Palo Alto, filed for bankruptcy after its board of directors explored other financing options including searching for equity financing, according to court do…

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.Fact check: Biden is right. The US generally pays double that of other countries for prescription drugs

Eiger, based in Palo Alto, California, filed Chapter 11 after its board of directors explored other financing options including searching for equity financing, according to court documents. The company said it develops therapies for hepatitis delta virus and other serious diseases.Click to print Harriette Cole: I left the wedding early because of these comments about meMiss Manners: The birthday joke was the last straw.

 

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