A Florida judge has ruled that it will not appoint an examiner or Chapter 11 trustee in BioVest International's bankruptcy case.
Just two weeks after the Radnor, PA-based biotech floated a plan for a reverse split designed to get the penny stock player onto Nasdaq, the company's acting CEO and a pair of directors handed in their resignations and the developer filed for Chapter 7.
Baxter International ($BAX) is grabbing a hemophilia A candidate in late-stage development from partners whose collaboration ran aground last year.
Delisted and largely dumped by investors after a pair of restructurings failed to cure what ailed it, Cambridge, MA-based Helicos BioSciences ($HLCS) has stepped into bankruptcy court seeking Chapter 11 protection for the genomic sequencing company.
A Boston-area plant that French drugmaker Ipsen had poured tens of millions of dollars into will be included in an auction of assets now that its partner, Inspiration Biopharmaceuticals, has filed for Chapter 11 bankruptcy protection.
Four months ago Inspiration Biopharmaceuticals was preparing for its commercial launch of a late-stage hemophilia therapy. Then in July the FDA clamped a clinical hold on the lead program and today the Cambridge, MA-based biotech's partner and primary financial backer Ipsen ($IPN) revealed that Inspiration had filed for Chapter 11 bankruptcy protection as it prepared for a sale of its assets through the courts.
After burning through a disappointing $30 million IPO haul from 2010, the regenerative medicine biotech Tengion is signaling that it's scraping the bottom of the bank account and may have to file for bankruptcy protection if it can't raise fresh funds soon.
Problems that began three years ago with K-V Pharmaceuticals hiding manufacturing lapses from the FDA have escalated into a Chapter 11 bankruptcy filing by the maker of Makena, a drug to prevent premature birth.
Accusing regulators of failing to protect its birth drug, K-V Pharmaceutical has filed for bankruptcy with debts listed at $728.3 million and assets valued at $236.6 million, Reuters reported over the weekend.
After struggling for four years under the weight of a failed late-stage study for a lead cancer drug, long-time penny stock company Genta ($GNTA) is giving up the ghost. The biotech filed an 8-K today outlining its last remaining option: Chapter 7 bankruptcy liquidation.