WILL ANTIBIOTIC INDUSTRY RISE UP TO THE CHALLENGE OF TACKLING GROWING ANTIBIOTIC RESISTANCE?
Melinta Therapeutics (NASDAQ: MLNT), a commercial-stage pharmaceutical Company, engaged in developing therapeutic options for treatment of bacterial infectious diseases, filed for Chapter 11 bankruptcy in January 2020. The Company had concerns about its financial prospects and warned the investors that it would be difficult to continue as a going concern. Melinta will now be controlled by Deerfield and receive 100% of the equity issued by the new company, in lieu of the $140 million loan it extended to Melinta. Deerfield will help the Company in its reorganization, which will include lay off of nearly 60 people.
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