Eiger BioPharmaceuticals sinks following report of Chapter 11 filing

Shares of Eiger BioPharmaceuticals plummeted after Bloomberg reported the company filed for Chapter 11 bankruptcy in Dallas. Eiger listed $38.8M in assets and $53.1M in liabilities in the petition, according to Bloomberg. The company filed Chapter 11 after its board explored other financing options including searching for equity financing, according to court documents, Bloomberg says. Eiger added that it will attempt to sell assets in Chapter 11. Shares of Eiger BioPharmaceuticals are down 50% to $2.50 in morning trading.