Histogen Inc., a pharmaceutical company specializing in the development of treatments for bacterial skin infections, has recently announced its decision to file for bankruptcy under subchapter V of Chapter 11 of the U.S. Bankruptcy Code. The filings were submitted at the United States Bankruptcy Court for the Southern District of California. The intention behind this move is to confirm a liquidation plan that will see the value distributed to all stakeholders, including company shareholders.
Additionally, Histogen aims to quickly propose and validate a liquidation plan to benefit its estate. This follows the company's previous announcement on September 18, 2023, where they disclosed the cessation of further development and their intention to seek approval for a Plan of Dissolution.
