Eiger files for bankruptcy and will wind down operations after years of setbacks

Eiger BioPharmaceuticals said Monday morning that it filed for Chapter 11 protection in the United States Bankruptcy Court for the Northern District of Texas.

The Palo Alto, CA-based biotech also said Sentynl Therapeutics has inked a “stalking horse” agreement for its approved drug Zokinvy. If the court allows it, Sentynl could pay up to $26 million for the treatment. The drug was approved in 2020 for Hutchinson-Gilford progeria syndrome, an ultra-rare disease in which children age prematurely and have a short life expectancy of about 14 years.

Eiger has struggled for years. In 2022, the FDA turned down its attempt to secure emergency use authorization for treating Covid-19. Last summer, it laid off workers and said it planned to focus on a GLP-1 antagonist in a rare complication of gastric bypass surgery. Several months later, it Click here to view original post

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