Brief: Sienna Biopharmaceuticals Prior To Filing Chapter 11 Made Payment To Silicon Valley Bank Of $21.3 Mln

Sienna Biopharmaceuticals

17/09/2019 14:01

Sept 17 (Reuters) - Sienna Biopharmaceuticals Inc  SNNA.O :
    * SIENNA BIOPHARMACEUTICALS - ON SEPTEMBER 16, PRIOR TO
FILING
CHAPTER 11 MADE PAYMENT TO SILICON VALLEY BANK OF $21.3 MILLION
    * SIENNA BIOPHARMACEUTICALS - IN ANTICIPATION OF CHAPTER 11
PROCEEDING, COMPANY IMPLEMENTED A CORPORATE RESTRUCTURING
    * SIENNA BIOPHARMACEUTICALS - ESTIMATES INCURRING ONE-TIME
EMPLOYEE BENEFITS & SEVERANCE CHARGE OF ABOUT $1.3 MILLION IN Q3
2019 RELATED TO RESTRUCTURING
    * SIENNA BIOPHARMACEUTICALS INC - RESTRUCTURING RESULTED IN
AN
IMMEDIATE ELIMINATION OF 7 POSITIONS
    * SIENNA BIOPHARMACEUTICALS INC - ON SEPT 11, BOARD OF
APPROVED A
MANAGEMENT RETENTION PLAN  AND KEY EMPLOYEE INCENTIVE BONUS PLAN

Source: (https://bit.ly/2kQrr3H)
Further company coverage:  SNNA.O 

 ((Reuters.Briefs@thomsonreuters.com;))