The US Bankruptcy Court gave an order approving the bidding procedures relating to the sale of substantially all the assets of Eiger BioPharmaceuticals, Inc. on April 5, 2024. The Court approved the asset purchase agreement between the debtor and Sentynl Therapeutics, Inc, the Zokinvy stalking horse bidder, for the sale of substantially all its assets for a purchase price of $26 million. To qualify as a qualified bidder, interested parties should submit their bids by April 15, 2024 and for remaining assets by June 10, 2024.

The initial minimum overbid should be in the amount of $0.38 million more than the initial purchase price. If the debtor receives any qualified bids then it would hold an auction for its assets on April 17, 2024, and for remaining assets by June 14, 2024. At the auction, the subsequent bids would be in increments of $0.38 million.

The sale hearing is scheduled for April 22, 2024, and for remaining assets by June 20, 2024.