Sienna Biopharmaceuticals Announces Court Approval of Chapter 11 Bidding Procedures
SIENNA BIOPHARMACEUTICALS (SNNA)
Last sienna biopharmaceuticals earnings: 8/8 04:18 pm
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US:NASDAQ Investor Relations:
investors.siennabio.com/node/5806
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Source: GlobeNewswire
WESTLAKE VILLAGE, Calif., Nov. 14, 2019 (GLOBE NEWSWIRE) -- Sienna Biopharmaceuticals, Inc. (Nasdaq:SNNA) (the “Company”), a clinical-stage biopharmaceutical company, today announced that, on November 13, 2019, the United States Bankruptcy Court for the District of Delaware (the “Court”) entered an order approving Sienna’s proposed bidding procedures and Chapter 11 sale process timeline (the “Bidding Procedures Order”).1 Under the Bidding Procedures Order, all bids to acquire all or substantially all of the Company’s assets, are due to Cowen and Company on or before December 2, 2019 at 5:00 p.m. Eastern Time. The Bidding Procedures Order sets forth various criteria that must be satisfied for a bid to be qualified and, among other things, sets forth procedures pursuant to which Sienna may select one or more “stalking horse bidders”. The Bidding Procedures Order also schedules an auction of the company’s assets on December 5, 2019 at 10:00 a.m. Eastern Time and a hearing to consider a
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