Anesiva (ANSV) Announces Intent to Cease Operations and File Bankruptcy After Failed Merger with Arcion Therapeutics
Anesiva, Inc. (Nasdaq: ANSV) announced that it was unable to satisfy the closing conditions set forth in the Agreement and Plan of Merger, dated August 4, 2009, among Anesiva, Arca Acquisition Corporation, a wholly-owned subsidiary of Anesiva, Arcion Therapeutics, Inc. and, with respect to Articles V and IX only of the agreement, each of the Arcion stockholders listed on Schedule I thereto.
The Company intends to immediately cease operations and to file a petition for relief under the Bankruptcy Code.
(NOTE - Shares currently trade under $1 on light volume)
[SM]
The Company intends to immediately cease operations and to file a petition for relief under the Bankruptcy Code.
(NOTE - Shares currently trade under $1 on light volume)
[SM]
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