Antibiotics apocalypse: Melinta files for bankruptcy protection as a plague of woes afflicts the field
The antibiotics field is ending the year on an appropriately bleak note, sounding the latest warning of a collapsing field as the threat of drug-resistant superbugs rises around the planet.
Melinta Therapeutics $MLNT has filed for Chapter 11 bankruptcy, continuing its course with the cash it has on hand and a deal to turn over control to Deerfield in exchange for the $140 million of senior debt it holds in the antibiotics player. The biotech expects to complete a reorganization in bankruptcy in Q1 of next year, during which time the company and Deerfield will remain open to better offers.
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