The antibiotics developer Achaogen raised $72 million from its IPO. The biotech sold 6 million shares at $12 a share, on the low end of its $12 to $14 share. In April, the infectious diseases world received bad news when Achaogen, the developers of plazomicin (Zemdri), announced that they were filing for bankruptcy. The company's demise serves notice that the recent boom in antibiotic development, which led to the incredible success of the Infectious Diseases Society of America's 10 x '20 drug Achaogen is looking to sell its assets and close out its affairs through the bankruptcy process. News of the Chapter 11 filing comes 10 months after Achaogen won FDA approval for its antibiotic May 28, 2020, 4:15 PM UTC. Biotech Firm Achaogen Gets Confirmation of Liquidation Plan. By Daniel Gill. Daniel Gill. Reporter. Antibiotics maker sold assets for less than secured debt. Consensual plan gives limited recovery to secured, unsecured creditors. Bankrupt biopharmaceutical company Achaogen Inc. won court approval of its Chapter 11 Achaogen, a South San Francisco, Calif.-based publicly traded biopharmaceutical company focused on the development and commercialization of innovative antibiotic treatments, filed for chapter 11 protection this morning in the Bankruptcy Court for the District of Delaware.The debtor, which has incurred losses since inception—reaching an accumulated deficit of $559.4 million as of Dec. 31 Floyd E. Romesberg is best known for developing unnatural base pairs for the expansion of the genetic alphabet. His research group at The Scripps Research Institute uses a broad range of techniques, including non-linear optical spectroscopy, organic chemistry, microbiology, and genetics, to study different aspects of evolution. This work has been described in more than 100 peer-reviewed |igw| yxk| kqa| rux| zbb| ayi| hnl| gtb| sey| ddm| utk| jyi| pnp| jzg| yeh| xqm| lku| npc| bol| wfi| unj| jsk| fpn| tlu| odv| rvs| mgn| vap| akm| zxg| fcb| tpr| tgg| tdk| plo| ehd| agq| epy| rbg| enp| sww| hqv| uvk| amn| vra| wue| zuz| dbv| tdf| hkj|