secwatch.observer — SEC 8-K summary
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Issuer:     PhaseBio Pharmaceuticals Inc (—)
CIK:        0001169245
Form:       8-K
Filed at:   2024-03-12T23:59:59+00:00
Accession:  0001193125-24-065935
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PhaseBio settles SFJ dispute in Ch.11; $2.5M admin claim, $27.8M unsecured claims
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- Settlement stipulates a $2.5M allowed administrative claim for SFJ, down from the $15.4M sought.
- SFJ receives $27.8M in aggregate general unsecured claims under the settlement.
- Plan requires sale of Bentracimab royalties within six months of BLA approval; if sale <$2.5M, royalty transfers to SFJ.
- SFJ will withdraw its objection and support the amended Chapter 11 Plan after Bankruptcy Court approval.
- November 2023 monthly report shows cash $2.55M, cumulative professional fees $14.2M, zero employees.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1169245/000119312524065935/0001193125-24-065935-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1169245/000119312524065935/d759787d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-065935

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