if the drug has any commercial sales potential the asset is worth 1 billion. even in clinical state it was worth at least 100 million without FDA approval. it was the lawsuit that deters any outside new injection of captial. if the assets are worthless why make a bid for the assets.? either chapter 11, the creditor claims get nothing.. and main reason for the banktupcy is from the lawsuits from previous shareholders who sold. i don't know how much they want for their investment loss but courts have give rediculous amounts like over 100 million in fines. no company can survive with a 100 million dollar fine that has no FDA approval
2 million. he and his 6 employees get paid 1.5 million and legal fees 500,000. there is nothing left for creditor claims those milestone payments. those 18 million milestone payments. are conditional payments and always renege on payin anything if the assets are sold again to another entity.