Eiger BioPharmaceuticals, Inc.: going-concern / distress — Eiger BioPharmaceuticals Chapter 11 liquidation plan confirmed; all equity cancelled

Eiger BioPharmaceuticals, Inc.

Bankruptcy Court entered confirmation order on Sept 5, 2024, for Fifth Amended Joint Plan of Liquidation.
All 1,480,797 shares of common stock to be cancelled on effective date; no recovery for equity holders.
Assets sold: Zokinvy to Sentynl, Avexitide to Amylyx, Lonafarnib/Lambda to Eiger InnoTherapeutics.
As of July 31, 2024, Debtors reported ~$65.6M assets and ~$40M liabilities (unaudited).
Liquidating Trustee and Plan Administrator to wind down operations and administer trust assets.

Key facts

Extracted from this filing and checked against the source text.

Distress & Bankruptcy SEC 8-K Item 1.03 confidence 0.99

Eiger BioPharmaceuticals, Inc. entered chapter 11 in United States Bankruptcy Court for the Northern District of Texas (petition 2024-04-01).

Proceeding: chapter 11
Court: United States Bankruptcy Court for the Northern District of Texas
Petition: 2024-04-01

Exact text from the filing

As previously disclosed, on April 1, 2024, Eiger BioPharmaceuticals, Inc. (the “ Company ”) and its direct subsidiaries (together the “ Debtors ”) filed voluntary petitions for relief under chapter 11 of Title 11 of the United States Code (the “ Bankruptcy Code ”) in the United States Bankruptcy Court for the Northern District of Texas (the “ Bankruptcy Court ”) under the caption In re Eiger BioPharmaceuticals, Inc., et al , Case No. 24-80040 (the “ Chapter 11 Cases ”).

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Source: SEC EDGAR

accession 0001193125-24-215909

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