September 18, 2019 / 11:32 PM / a month ago

IN BRIEF: Sienna Biopharma gets court OK to tap cash after Ch. 11 filing

Sienna Biopharmaceuticals Inc won a court order on Wednesday allowing it to begin tapping its roughly $11 million cash collateral on the heels of filing for bankruptcy after burning through much of its funding for developing skin treatments.

Obtaining the order was an urgent matter, President and Chief Executive Officer Frederick Beddingfield said in a filing on Monday when the company sought Chapter 11 protection in U.S. Bankruptcy Court in Delaware.

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