Eiger Biopharmaceuticals (EIGRQ) has shared an update.
Eiger BioPharmaceuticals, Inc. and its subsidiaries have filed for Chapter 11 bankruptcy and proposed a liquidation plan which, if approved, will cancel and extinguish all equity securities. Shareholders would receive a proportional share of cash from the designated recovery pool. The company warns that trading its securities is highly speculative and risky, as shareholders might face significant losses depending on the bankruptcy outcome. A hearing is set for July 29, 2024, to discuss the approval of the liquidation plan and disclosure statement, which are subject to change and should not be solely relied upon.
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