Sienna Biopharma: Falls on Nasdaq delisting plans

Sienna Biopharmaceuticals

11/12/2019 12:58

** Drug developer's shares  SNNA.O  down 14.1% to 16 cents
premarket
    ** Co says it requested Nasdaq on Tuesday to delist its
common stock, effective from Dec. 13 https://bit.ly/2rAxa11
 
    ** Co filed for Chapter 11 bankruptcy protection in Delaware
in September this year; now anticipates Chapter 11 process will
be converted to Chapter 7 proceeding  urn:newsml:reuters.com:*:nL3N26833E
    ** Co also says Delaware's Bankruptcy Court approved the
selling of SNNA's assets related to its hair removal treatment
SNA-001 in an auction process; co had submitted a marketing
application for SNA-001 to the U.S. FDA in October  urn:newsml:reuters.com:*:nL3N26S2BH
    ** SNA-001 total assets worth $1.7 mln to be sold in cash;
includes assets related to intellectual property
    ** SNNA stock has plunged ~92% YTD as of Tuesday's close

 (Reporting by Ruhi Soni in Bengaluru)
 ((Ruhi.Soni@thomsonreuters.com;))