NEPHROGENEX, INC. (OTCMKTS:NRXGQ) Files An 8-K Regulation FD Disclosure

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NEPHROGENEX, INC. (OTCMKTS:NRXGQ) Files An 8-K Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure.

As previously announced, on April 30, 2016, NephroGenex, Inc.
(the Company or NephroGenex) filed a voluntary petition for
relief (the Chapter 11 Filing) under Chapter 11 of Title 11 of
the United States Code (the Bankruptcy Code) in the United States
Bankruptcy Court for the District of Delaware (the Bankruptcy
Court).
On February 17, 2017, as previously disclosed, the Company filed
with the Bankruptcy Court (1) a proposed plan of reorganization
for the resolution of the outstanding claims against and
interests in the Company to section 1121(a) of the Bankruptcy
Code, (2) a related proposed disclosure statement and (3) a
related proposed liquidating trust agreement. On March 23, 2017,
the Bankruptcy Court issued an order approving a modified version
of the previously filed disclosure statement (the Disclosure
Statement). In addition, a modified version of the previously
filed proposed plan of reorganization (as may be amended,
modified or supplemented from time to time, the Proposed Plan),
was filed with the Bankruptcy Court as an exhibit to the
Disclosure Statement.
On April 21, 2017, the Company filed with the Bankruptcy Court a
plan supplement (together with all exhibits thereto, the Plan
Supplement) to the Proposed Plan. The discussion of the Plan
Supplement herein is a summary and is qualified in its entirety
by the Plan Supplement attached as Exhibit 99.1 to this Current
Report on Form 8-K and incorporated by reference herein.
The Plan Supplement includes draft versions of certain documents
(the Documents) related to the Proposed Plan and referenced
therein, including, among other things, (i) forms of
organizational and governing documents of reorganized
NephroGenex; (2) a list of the initial directors and officers of
reorganized NephroGenex; (3) a schedule of executory contracts to
be assumed by reorganized NephroGenex; (4) a non-exclusive list
of retained causes of action ; and (5) a schedule of retained
avoidance actions. All information contained in the Plan
Supplement and the Documents is subject to change, and the
Company reserves the right to alter, amend, update, supplement,
or modify the Plan Supplement or the Documents at any time prior
to the hearing on the confirmation of the Proposed Plan.
Cautionary Statements Regarding Forward-Looking Statements
This current report on Form 8-K and Exhibit 99.1, 99.2 and 99.3
(collectively, this Current Report) hereto contain certain
statements that may be deemed to be forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933
and Section 21E of the Securities Exchange Act of 1934. In some
cases, these forward-looking statements can be identified by the
use of forward-looking terminology, including the terms believes,
estimates, anticipates, expects, plans, intends, may, could,
might, will, should, approximately or, in each case, their
negative or other variations thereon or comparable terminology,
although not all forward-looking statements contain these words.
They appear in a number of places throughout this Current Report
and include statements regarding our intentions, beliefs,
projections, outlook, analyses or current expectations
concerning, among other things, the strength and breadth of our
intellectual property, expectations regarding financial
condition, liquidity, the length of time that we will be able to
continue to fund our operating expenses and capital expenditures
and our previously announced bankruptcy proceeding.
By their nature, forward-looking statements involve risks and
uncertainties because they relate to events, competitive
dynamics, and healthcare, regulatory and scientific developments
and depend on the economic circumstances that may or may not
occur in the future or may occur on longer or shorter timelines
than anticipated. Although we believe that we have a reasonable
basis for each forward-looking statement contained herein, we
caution you that forward-looking statements are not guarantees of
future performance and that our actual results of operations,
financial condition and liquidity, and the development of the
industry in which we operate may differ materially from the
forward-looking statements contained in the presentation as a
result of, among other factors, the factors referenced in the
Risk Factors section of our Annual Report on Form 10-K filed with
the Securities and Exchange Commission during March 2016. Any
forward-looking statements that we make herein speak only as of
the date of such statement, and we undertake no obligation to
update such statements to reflect events or circumstances after
the date of the presentation, except as required by law.
You should read carefully our Cautionary Note Regarding
Forward-Looking Statements and Industry Data and the factors
described in the Risk Factors sections of our Annual Report on
Form 10-K to better understand the risks and uncertainties
inherent in our business.
Additional Information Regarding the Chapter 11 Filing
Information about the Chapter 11 process, as well as court
filings and other documents related to the reorganization
proceedings, is available through the Companys claims agent,
Kurtzman Carson Consultants LLC, at www.kccllc.net/NephroGenex.
Information contained on, or that can be accessed through, such
web site or the Bankruptcy Courts web site is not part of this
Current Report.
Limitation on Incorporation by Reference
In accordance with General Instruction B.2 of Form 8-K, the
information in this Item 7.01 is being furnished for
informational purposes only and shall not be deemed filed for
purposes of Section 18 of the Exchange Act, or otherwise subject
to the liabilities of that section, nor shall such information be
deemed incorporated by reference in any filing under the
Securities Act of 1933, as amended, except as otherwise expressly
stated in such filing. The filing of this Current Report will not
be deemed an admission as to the materiality of any information
required to be disclosed solely by Regulation FD.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No.
Description
99.1
Plan Supplement to Plan of Reorganization to Chapter 11
of the Bankruptcy Code Proposed by the Debtor, dated
April 21, 2017
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
NEPHROGENEX, INC.
Date:
April 21, 2017
/s/ John Hamill
John Hamill
Chief Executive and Chief Financial Officer
INDEX TO EXHIBITS
Exhibit No.
Description
99.1
Plan Supplement to Plan of Reorganization


About NEPHROGENEX, INC. (OTCMKTS:NRXGQ)

NephroGenex, Inc. is a pharmaceutical company. The Company is focused on the development of therapeutics to treat kidney disease. The Company has paused the clinical program of its product candidate, oral Pyridorin, for the treatment of diabetic nephropathy. The Company was primarily focused on the Phase III Pyridorin program, and other planned clinical and nonclinical studies and other work needed to submit Pyridorin for acute kidney injury (AKI), as well as the treatment of diabetic nephropathy in patients with Type II diabetes for regulatory approval in the United States and Europe. The Company has not generated any revenues.

NEPHROGENEX, INC. (OTCMKTS:NRXGQ) Recent Trading Information

NEPHROGENEX, INC. (OTCMKTS:NRXGQ) closed its last trading session 00.00000 at 0.00500 with 822,951 shares trading hands.