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Stock impact report

Immune Pharmaceuticals Files for Chapter 11 Protection

Immune Pharmaceuticals Inc Ne (IMNP)  More Company Research Source: GlobeNewswire
US:NASDAQ Investor Relations: immunepharma.com/investor-relations
PDF FORT LEE, N.J., Feb. 19, 2019 (GLOBE NEWSWIRE) -- Immune Pharmaceuticals, Inc. (OTCQB: IMNP) (“Immune” or the “Company”), a biopharmaceutical company developing novel therapeutic agents for the treatment of immunologic and inflammatory diseases, has filed for chapter 11 bankruptcy in the Federal Bankruptcy Court in New Jersey. Despite making significant progress towards a bertilimumab strategic transaction, with the partnering process already yielding term sheets, Immune was unable to negotiate terms for additional funding to provide the several month’s runway necessary to complete a transaction.  The Company had expected to receive $3 million in financing and to sign a Ceplene partnership with an initial payment of $2.5 million, but neither transaction closed.  Accordingly, in order to prevent the loss of the Company’s assets, the Company undertook the difficult decision to seek the protection of the bankruptcy court. Immune will have minimal ongoing operations during this reo [Read more]
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