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Aradigm files for bankruptcy in California

Feb. 15, 2019 11:15 PM ETAradigm Corp. (ARDM) StockBy: Jason Aycock, SA News Editor8 Comments
  • Aradigm (OTC:ARDM) has filed for Chapter 11 bankruptcy in California.
  • That will launch a process to sell substantially all of its assets to an interested party in order to satisfy claims of creditors, with any remainder going to stockholders.
  • It says it determined on Monday that without confirmed funding from its primary investor and partner, it wouldn't have funds to meet future obligations.
  • The company says it remains confident in the efficacy, safety and quality of its Apulmiq/Linhaliq offering.
  • It has assets and liabilities of $10M-$50M in its petition. Market cap today was $6.42M.

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