and its units have filed for Chapter 11 bankruptcy protection, it said in a regulatory filing on Tuesday, sending its shares tumbling 66% in premarket trading.
The disclosure comes months after it said it was preparing to test an obesity drug candidate in human trials. The company was also testing another drug candidate, vurolenatide, in a mid-stage trial for the potential treatment of short bowel syndrome.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Netflix sets sights on video games for next chapter as growth slowsInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Source: BusinessInsider - 🏆 729. / 51 Read more »