Steven Lo, Zosano Pharma CEO

Af­ter fil­ing for bank­rupt­cy, re­ject­ed mi­graine drug de­vel­op­er Zosano’s val­ue more than halved

The dev­as­ta­tions of the pub­lic mar­kets and the re­peat­ed re­jec­tions hand­ed down by the FDA have added up to a dim fu­ture for Zosano Phar­ma as it ap­pears the 16-year-old biotech’s jour­ney is com­ing to an end.

The Fre­mont, CA biotech filed for bank­rupt­cy on Wednes­day and is cur­rent­ly op­er­at­ing as a “debtor-in-pos­ses­sion” and in­tends to rid it­self of “sub­stan­tial­ly all of its as­sets” over the course of the Chap­ter 11 case, Zosano said Thurs­day morn­ing.

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