Codiak BioSciences Files For Chapter 11 Bankruptcy

Benzinga

2023-03-28

Codiak BioSciences Inc (NASDAQ: CDAK) voluntarily filed for protection under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware and will seek to pursue a sale process for its assets.
The company began a marketing process ahead of the Chapter 11 filing to determine the level of market interest and is in ongoing discussions with several parties.
The company expects to consummate a sale of the entire business or its core assets.
Codiak BioSciences' executive management team, including the CEO, CFO, Chief Medical Officer, and Chief Scientific Officer, will depart effective April 7.
Douglas Williams (CEO) will remain on the Board.
Konstantin Konstantinov, (Chief Technology Officer) will remain with the company.
In August, the company announced a reprioritization of its clinical and research initiatives, accelerating discussions related to potential strategic corporate and program-based partnerships and restructuring operations to support a streamlined set of priorities.
Codiak BioSciences also raised $20 million via equity in September last year.
Price Action: CDAK shares are down 54.40% at $0.20 on the last check Monday.

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This article Codiak BioSciences Files For Chapter 11 Bankruptcy originally appeared on Benzinga.com

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© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Try the tool that will help you invest smarter, faster, and better.</p>\n<p>This article Codiak BioSciences Files For Chapter 11 Bankruptcy originally appeared on Benzinga.com</p>.\n<p><i>© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.</i></p></body></html>","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Codiak BioSciences Files For Chapter 11 Bankruptcy</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCodiak BioSciences Files For Chapter 11 Bankruptcy\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Benzinga</strong><span class=\"h-time small\">2023-03-28 02:49</span>\n</p>\n</h4>\n</header>\n<article>\n<html><body><img height=\"675\" src=\"https://s.yimg.com/uu/api/res/1.2/Pw754rlWILDRI9xc2TMxsQ--/cT03NTthcHBpZD15dmlkZW9mZWVkczs-/https://media.zenfs.com/en/Benzinga/33e19523c46b82ac78712e449a9e534c\" width=\"1200\"/>\n<ul>\n<li><strong>Codiak BioSciences Inc</strong> (NASDAQ: CDAK) voluntarily filed for protection under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware and will seek to pursue a sale process for its assets.</li>\n<li>The company began a marketing process ahead of the Chapter 11 filing to determine the level of market interest and is in ongoing discussions with several parties. </li>\n<li>The company expects to consummate a sale of the entire business or its core assets.</li>\n<li>Codiak BioSciences' executive management team, including the CEO, CFO, Chief Medical Officer, and Chief Scientific Officer, will depart effective April 7.</li>\n<li>Douglas Williams (CEO) will remain on the Board. </li>\n<li>Konstantin Konstantinov, (Chief Technology Officer) will remain with the company.</li>\n<li>In August, the company announced a reprioritization of its clinical and research initiatives, accelerating discussions related to potential strategic corporate and program-based partnerships and restructuring operations to support a streamlined set of priorities.</li>\n<li>Codiak BioSciences also raised $20 million via equity in September last year.</li>\n<li><strong>Price Action:</strong> CDAK shares are down 54.40% at $0.20 on the last check Monday.</li>\n</ul>\n<p>Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.</p>\n<p>This article Codiak BioSciences Files For Chapter 11 Bankruptcy originally appeared on Benzinga.com</p>.\n<p><i>© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.</i></p></body></html>\n<div class=\"bt-text\">\n\n\n<p> 來源：<a href=\"https://finance.yahoo.com/news/codiak-biosciences-files-chapter-11-184930971.html\">Benzinga</a></p>\n<p>為提升您的閱讀體驗，我們對本頁面進行了排版優化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4139","symbol_name":"生物科技","start_time":0,"source_url":"https://finance.yahoo.com/news/codiak-biosciences-files-chapter-11-184930971.html","article_id":"2322198477","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/hRcDmCEnhgA1ehwWetfmbA--~B/aD02NzU7dz0xMjAwO2FwcGlkPXl0YWNoeW9u/https://media.zenfs.com/en/Benzinga/33e19523c46b82ac78712e449a9e534c"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2322198477","pubTimestamp":1679942970,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Codiak BioSciences Inc (NASDAQ: CDAK) voluntarily filed for protection under Chapter 11 of the U.S. ","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4139":"生物科技","CEO":"中海油","BK4505":"高瓴资本持仓"},"translate_title":"Codiak生物科学公司申请第11章破产","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CDAK":1,"CEO":1},"content_text":"Codiak BioSciences Inc (NASDAQ: CDAK) voluntarily filed for protection under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware and will seek to pursue a sale process for its assets.\nThe company began a marketing process ahead of the Chapter 11 filing to determine the level of market interest and is in ongoing discussions with several parties. \nThe company expects to consummate a sale of the entire business or its core assets.\nCodiak BioSciences' executive management team, including the CEO, CFO, Chief Medical Officer, and Chief Scientific Officer, will depart effective April 7.\nDouglas Williams (CEO) will remain on the Board. \nKonstantin Konstantinov, (Chief Technology Officer) will remain with the company.\nIn August, the company announced a reprioritization of its clinical and research initiatives, accelerating discussions related to potential strategic corporate and program-based partnerships and restructuring operations to support a streamlined set of priorities.\nCodiak BioSciences also raised $20 million via equity in September last year.\nPrice Action: CDAK shares are down 54.40% at $0.20 on the last check Monday.\n\nDon't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.\nThis article Codiak BioSciences Files For Chapter 11 Bankruptcy originally appeared on Benzinga.com.\n© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"code":"91000000","status":"200"}}}