Migraine-Patch Maker Zosano to Liquidate in Bankruptcy, CEO Says

Zosano Pharma Corp. will likely sell its assets piecemeal in Chapter 11 bankruptcy and wind down operations, Chief Executive Officer Steven Lo said in a court declaration.

• A pre-bankruptcy sale process yielded no expressions of interest for the whole business, but some parties are interested in buying certain Zosano assets, Lo said
  • Zosano “has received expressions of interest and is actively negotiating with prospective transaction parties interested in certain discrete assets”
• Company is a publicly traded developer of a migraine treatment patch; Zosano has for years failed to get U.S. Food and Drug Administration approval for the treatment
• Zosano ...