MedWatch

Restructuring gives embattled Orphazyme three paths to survival

Capital is crucial when operating a healthy business, and all signs point to Orphazyme’s wallet being empty. A lawyer with bankruptcy experience highlights three potential ways Orphazyme might keep its head above water, while an analyst says it all hinges on a single meeting.

Photo: Nikolaj Skydsgaard/Reuters/Ritzau Scanpix

Ever since Orphazyme’s hope to see drug candidate arimoclomol approved in the US was quashed in June of 2021, the company has been in a free fall in more ways than one. Today, the company’s share price also tells a story of its own.

Recently, bad news has kept piling on in a long string of company press releases: First, Orphazyme said it was seeking court protection from creditors in the US, then a delisting of its American Depositary Shares (ADS), which was followed by Orphazyme announcing an in-court restructuring process had been initiated in Denmark. Finally, the company decided to withdraw its European marketing authorization application for arimoclomol.

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