Bellerophon’s board approves liquidation plan, leaves Nasdaq after layoffs and trial failures

Bellerophon Ther­a­peu­tics’ board of di­rec­tors has ap­proved a plan to liq­ui­date the com­pa­ny and now just needs share­hold­er ap­proval to dis­solve af­ter it let go of al­most all of its em­ploy­ees over the sum­mer, ac­cord­ing to SEC fil­ings.

Bellerophon is call­ing a spe­cial meet­ing of the stock­hold­ers to vote on the plan.

In June, the biotech laid off al­most all of its em­ploy­ees and said it would be search­ing for strate­gic al­ter­na­tives af­ter its de­vice for ad­min­is­ter­ing in­haled ni­tric ox­ide, dubbed IN­Opulse, failed a late-stage tri­al for fi­brot­ic in­ter­sti­tial lung dis­ease. The de­vice al­so flunked tri­als in pul­monary ar­te­r­i­al hy­per­ten­sion and Covid-19.

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