The Chapter 11 bankruptcy process for Eiger Biopharmaceuticals has concluded, finalizing the company’s liquidation and leaving equity investors with a total loss. A U.S. bankruptcy court in Texas gave its approval to the final plan in September 2024, formally ending the biotechnology firm’s operations and voiding all common stock.
Prior to the court’s confirmation, Eiger sold its remaining key drug programs to competitors. In the summer of 2024, Amylyx Pharmaceuticals acquired the avexitide program for $35.1 million. In a simultaneous transaction, Sentynl Therapeutics obtained the rights to Zokinvy, a treatment for the extremely rare Hutchinson-Gilford Progeria Syndrome.
The confirmed restructuring plan outlined the strategy for…