PhaseRx, Inc. (NASDAQ:PZRX) Files An 8-K Bankruptcy or Receivership

PhaseRx, Inc. (NASDAQ:PZRX) Files An 8-K Bankruptcy or Receivership
Item 1.03. Bankruptcy or Receivership.

Story continues below

On December 11, 2017, PhaseRx, Inc. (the “Company”) filed a voluntary petition under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District ofDelaware (the “Bankruptcy Court”) (Case No. 17-12890).

The Company is operating in the ordinary course of business as a "debtor-in-possession" under the jurisdiction of the Bankruptcy Court and in accordance with the applicable provisions of the Bankruptcy Code and orders of the Bankruptcy Court. The Company is working with Cowen and Company to review financial and strategic alternatives.

On December 11, 2017, the Company issued a press release announcing commencement of a voluntary Chapter 11 bankruptcy protection proceeding. A copy of this press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No. Description
99.1 Press release, dated December 11, 2017

EX-99.1 2 tv481247_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1       PhaseRx Commences Voluntary Chapter 11 Bankruptcy Protection Proceeding   SEATTLE,…
To view the full exhibit click here

About PhaseRx, Inc. (NASDAQ:PZRX)

PhaseRx, Inc is a biopharmaceutical company developing a portfolio of mRNA products to correct life-threatening inherited liver diseases in children. The Company’s initial product development focus is on urea cycle disorders, a group of rare genetic diseases that generally present before the age of 12 and are characterized by the body’s inability to remove ammonia from the blood. The Company’s i-ERT approach is enabled by its Hybrid mRNA Technology platform and is applicable to a number of inherited liver diseases. The Company is headquartered in Seattle.

An ad to help with our costs