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Achaogen files for bankruptcy amid continued headwinds for antibiotic developers

April 16, 2019 11:45 PM UTC

Following regulatory headwinds and what it called very limited uptake of its sole marketed antibiotic, Achaogen filed for Chapter 11 bankruptcy late Monday. It is one of several antibiotic companies that have lost over half their valuation over the past year amid difficult market conditions and a dwindling funding pool, despite a tremendous public health need for new antimicrobials to get ahead of future drivers of resistance.

Zemdri plazomicin delivered $800,000 in revenue from its U.S. launch in July 2018 through Dec. 31 and Achaogen Inc. (NASDAQ:AKAO) has had difficulty raising sufficient funds to advance its commercialization, the company said in its 4Q18 earnings statement. The drug is approved to treat complicated urinary tract infections (cUTIs)...

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Achaogen Inc.