Brief: Orphazyme Says Decided To File Petition For An In-Court Restructuring

Strategic Partners A/S

10/03/2022 21:23

March 10 (Reuters) - Orphazyme A/S  ORPHA.CO :
    * WILL INSTITUTE A REDUCTION OF APPROXIMATELY 50% OF CURRENT
WORK
FORCE
    * INTENDS TO DELIST AMERICAN DEPOSITARY SHARES FROM NASDAQ
US
COPENHAGEN, DENMARK, MARCH 10, 2022
    * ORPHAZYME -  IN DENMARK, CO WILL TOMORROW, MARCH 11,
INITIATE
NEGOTIATIONS UNDER DANISH ACT ON COLLECTIVE REDUNDANCIES AND ACT
ON INFORMATION AND CONSULTATION
    * RESTRUCTURING TO EXPLORE IF CO'S OPERATIONS CAN CONTINUE,
INCLUDING BASIS FOR INJECTING FURTHER CAPITAL, OR A SALE OF
COMPANY'S ASSETS
    * AS PART OF COMPANY'S EFFORTS TO REDUCE COSTS, ORPHAZYME
RECENTLY
CLOSED ITS COMMERCIAL OPERATIONS IN GERMANY, UK, AND US

Source text for Eikon:  ID:nGNE4pqPVx 
Further company coverage:  ORPHA.CO 

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