Yes, this is the end of the road. Their asset would be sold and common holders might not get anything at all. It depends on if Chemosat has value and how much? This is the single most important question.
Maybe an EU company will bid for it cheap. The debt holders will likely get something for it, but no one knows if common holders will get anything in a BK fire sale.
I would think they should be able to do a deal but it might not be a good deal. It be a low balled bad deal but still better than BK.
Just like Cytrx, NantCell made a low balled offer for a 350 million milestone payment with 13 million investment in Aldoxorubicin. Stock didn't make it over 1$ and RS still on the table after such deal. Shareholders are calling it conspiracy for cheap take over or hostile take over. It's the same story of shareholders accusing CEO of intentional destroying shareholders value.
So then the question is why is a company CEO intentionally destroying the stock value? Is it because they were paid under the table or is it because it's a scam?
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