DMK Pharmaceuticals Files for Chapter 11 Bankruptcy

DMK Pharmaceuticals (DMK) has released an update to notify the public and investors about its debt resolution strategies.

DMK Pharmaceuticals Corporation, along with its affiliates, has initiated voluntary bankruptcy proceedings under Chapter 11 on February 2, 2024. They aim to restructure their debt while maintaining control of their operations as debtors-in-possession. The company has sought the court’s approval to ensure that critical pre-petition obligations, such as employee compensations and utility payments, continue uninterrupted during this transition, expecting interim approval from the court.

For further insights into DMK financials, check out TipRanks’ Financials page.

For a comprehensive understanding of the announcement, you can read the full document here.