Biocept Inc Says On Oct 13th, Filed Voluntary Petition Under The Provisions Of Chapter 7 In Bankruptcy Court; Following Resignations Of Members, Company Will Have No Members Serving On Its Board Of Directors
Portfolio Pulse from Benzinga Newsdesk
Biocept Inc has filed a voluntary petition under Chapter 7 in bankruptcy court on October 13th. Following this, all members have resigned, leaving the company with no serving board of directors, according to an SEC filing.
October 16, 2023 | 1:01 pm
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Biocept Inc's filing for bankruptcy and the resignation of all board members could lead to a significant drop in the company's stock price.
Bankruptcy filings typically lead to a decrease in a company's stock price as it indicates financial distress. The resignation of all board members further exacerbates the situation as it leaves the company without leadership, causing further uncertainty and potentially leading to a further decrease in stock price.
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