MLNT - Melinta Therapeutics, Inc.

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
0.5000
-0.0302 (-5.70%)
At close: 4:00PM EST
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Previous Close0.5302
Open0.5150
Bid0.0000 x 800
Ask0.0000 x 900
Day's Range0.5000 - 0.5300
52 Week Range0.3000 - 10.1000
Volume695,087
Avg. Volume600,517
Market Cap6.875M
Beta (5Y Monthly)6.44
PE Ratio (TTM)N/A
EPS (TTM)-26.6860
Earnings DateMar 10, 2020 - Mar 15, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est11.50
  • Bloomberg

    Drugmaker Melinta, Co-Founded by Nobel Winner, Files Bankruptcy

    (Bloomberg) -- Melinta Therapeutics Inc., a bio-pharmaceutical company specializing in infectious disease treatment, filed for Chapter 11 bankruptcy in Delaware with plans to continue operating.Melinta listed as much as $500 million in assets and up to $500 million in liabilities in its bankruptcy petition. Founded in 2000 by scientists including Nobel Prize winner Thomas Steitz, the company sells drugs that treat MRSA, urinary tract and other bacterial infections.The drugmaker has reached a restructuring agreement with secured lenders from Deerfield Private Design Fund III LP and Deerfield Private Design Fund IV LP, who would acquire 100% of the equity in the reorganized company in exchange for $140 million of secured claims under a senior credit facility, according to a regulatory filing and company statement. Melinta will also consider competitive bids for its assets or business beyond the deal with creditors, and aims to close a transaction by the end of the first quarter of 2020.A representative for Melinta didn’t immediately respond to requests for comment.Weakened Profits“We are confident that this process will secure new ownership of the business with the financial resources to support the company’s antibiotics portfolio and ensure these potentially life-saving products continue to get to patients in need,” interim Chief Executive Officer Jennifer Sanfilippo said in the statement.Profitability for drugmakers like Melinta has been weakening because infectious disease doctors, wary of promoting resistance, are reluctant to introduce new antibiotics until they’re absolutely needed.In November, Melinta said that limited liquidity and insufficient revenues would likely make a Chapter 11 necessary, according to a quarterly filing. In the event of bankruptcy, stockholders would be entitled to little to no recovery, the company said at the time. Shares of Morristown, New Jersey-based Melinta fell as much as 74% Friday morning.The case is Melinta Therapeutics Inc., 19-12748, U.S. Bankruptcy Court for the District of DelawareTo contact the reporter on this story: Olivia Rockeman in New York at orockeman1@bloomberg.netTo contact the editors responsible for this story: Rick Green at rgreen18@bloomberg.net, Nicole Bullock, Boris KorbyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • MarketWatch

    Melinta Therapeutics stock slides after company files for chapter 11 bankruptcy protection

    Shares of biotech Melinta Therapeutics Inc. slid 59% Friday, after the developer of novel antibiotics to treat bacterial infections filed for chapter 11 bankruptcy protection. Morrison, New Jersey-based Melinta said it has reached a restructuring agreement with the lenders under its senior credit facility, Deerfield Private Design Fund III, L.P. and Deerfield Private Design Fund IV, L.P. The lenders have agreed to acquire the company by exchanging $140 million of secured claims for 100% of the equity to be issued by the reorganized company according to a pre-negotiated bankruptcy. "While we have successfully conserved cash and enhanced revenue over the past several quarters, we nevertheless anticipate challenges in meeting the company's obligations, including near-term compliance with certain covenants," Interim Chief Executive Jennifer Sanfilippo said in a statement. Melinta is hoping to complete the restructuring by the end of the first quarter.

  • GlobeNewswire

    Melinta Therapeutics Announces Restructuring Support Agreement with its Secured Lenders under its Senior Credit Facility

    Melinta Therapeutics, Inc. (MLNT) (the “Company” or “Melinta”), a commercial-stage company focused on the development and commercialization of novel antibiotics to treat serious bacterial infections, today announced that it has entered into a Restructuring Support Agreement (the “Agreement”) with the lenders under its senior credit facility, Deerfield Private Design Fund III, L.P. and Deerfield Private Design Fund IV, L.P. (the “Supporting Lenders”). Under the Agreement, the Supporting Lenders would acquire the Company as a going concern by exchanging $140 million of secured claims arising under its senior credit facility for 100 percent of the equity to be issued by the reorganized Company pursuant to a pre-negotiated chapter 11 plan of reorganization.

  • Hedge Funds Are Dumping Melinta Therapeutics, Inc. (MLNT)
    Insider Monkey

    Hedge Funds Are Dumping Melinta Therapeutics, Inc. (MLNT)

    The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. We have processed the filings of the more than 700 world-class investment firms that we track and now have access to the collective wisdom contained in […]

  • Melinta Therapeutics, Inc. Just Reported Earnings, And Analysts Cut Their Target Price
    Simply Wall St.

    Melinta Therapeutics, Inc. Just Reported Earnings, And Analysts Cut Their Target Price

    One of the biggest stories of last week was how Melinta Therapeutics, Inc. (NASDAQ:MLNT) shares plunged 36% in the...

  • MarketWatch

    Melinta Therapeutics stock plunges toward record low after another 'going concern' warning

    Shares of Melinta Therapeutics Inc. plummeted 45% toward a record low to pace all premarket decliners Wednesday, after the commercial-stage drug maker included a "going concern" warning in its quarterly filing, for the third consecutive quarter. The first warning by the company that it believed there was "substantial doubt about our ability to continue as a going concern" was in the 10-Q filing with the Securities and Exchange Commission on May 10. The stock had tumbled 25.5% that day, and fell 19% on Aug. 9 when that warning was repeated. In the 10-Q filed late Tuesday, the cmopany said it is "likely in the next few months" that the company would violate financial-related covenants that require a certain minimum revenue, minimum cash and an audit opinion without a going concern qualification. The stock has tumbled 72% year to date, while the S&P 500 has climbed 23%.

  • Melinta Therapeutics, Inc. (MLNT) Reports Q3 Loss, Tops Revenue Estimates
    Zacks

    Melinta Therapeutics, Inc. (MLNT) Reports Q3 Loss, Tops Revenue Estimates

    Melinta Therapeutics, Inc. (MLNT) delivered earnings and revenue surprises of 10.88% and 2.35%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?

  • GlobeNewswire

    Melinta Therapeutics Files Quarterly Report on Form 10-Q for the Quarter Ended September 30, 2019

    Melinta Therapeutics, Inc. (MLNT), a commercial-stage company focused on the development and commercialization of novel antibiotics to treat serious bacterial infections, today announced that it has filed its quarterly report on Form 10-Q for the three and nine months ended September 30, 2019 with the Securities and Exchange Commission (“SEC”). The Company encourages its current and potential investors to read this quarterly report for information related to our third quarter 2019 financial results and other important corporate updates. A link to Melinta’s filings with the SEC can be found on its website at http://ir.melinta.com/financial-information/sec-filings.

  • Will Melinta Therapeutics, Inc. (MLNT) Report Negative Q3 Earnings? What You Should Know
    Zacks

    Will Melinta Therapeutics, Inc. (MLNT) Report Negative Q3 Earnings? What You Should Know

    Melinta Therapeutics, Inc. (MLNT) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

  • Company News For Oct 28, 2019
    Zacks

    Company News For Oct 28, 2019

    Companies in the news are: AMZN, BOOM, RMD, MLNT

  • Benzinga

    The Daily Biotech Pulse: Melinta Crosses FDA Hurdle But Sees Liquidity Pushback, Positive Readout For Aclaris Wart Drug

    Here's a roundup of top developments in the biotech space over the last 24 hours. Scaling The Peaks (Biotech stocks hitting 52-week highs on Oct. 24) AstraZeneca plc (NYSE: AZN ) (reacted to a beat-and-raise ...

  • GlobeNewswire

    Melinta Therapeutics Announces U.S. FDA Approval of Supplemental New Drug Application for BAXDELA® (delafloxacin) for the Treatment of Community-Acquired Bacterial Pneumonia (CABP)

    Melinta Therapeutics, Inc. (MLNT), a commercial-stage company focused on the development and commercialization of novel antibiotics to treat serious bacterial infections, today announced the U.S. Food and Drug Administration (FDA) has approved BAXDELA® (delafloxacin) for the treatment of adult patients with community-acquired bacterial pneumonia (CABP) caused by designated susceptible bacteria. This supplemental approval follows FDA priority review based on the previous Qualified Infectious Disease Product (QIDP) designation, which provides certain incentives for the development of antibacterial and antifungal treatments for serious or life-threatening infections.

  • Who Has Been Selling Melinta Therapeutics, Inc. (NASDAQ:MLNT) Shares?
    Simply Wall St.

    Who Has Been Selling Melinta Therapeutics, Inc. (NASDAQ:MLNT) Shares?

    It is not uncommon to see companies perform well in the years after insiders buy shares. The flip side of that is that...

  • PR Newswire

    Antimicrobials Working Group Highlights Member Company Participation at IDWeek 2019

    52 Presentations by Coalition Members During the Annual Meeting WASHINGTON , Oct. 1, 2019 /PRNewswire/ -- The Antimicrobials Working Group (AWG), a coalition of companies with the mission to combat drug-resistant ...

  • Implied Volatility Surging for Melinta Therapeutics (MLNT) Stock Options
    Zacks

    Implied Volatility Surging for Melinta Therapeutics (MLNT) Stock Options

    Investors need to pay close attention to Melinta Therapeutics (MLNT) stock based on the movements in the options market lately.

  • Benzinga

    The Daily Biotech Pulse: Puma Leaps, Aerie Borrows, Hepion Back In Nasdaq's Good Books

    Here's a roundup of top developments in the biotech space over the last 24 hours. Scaling The Peaks (Biotech stocks hitting 52-week highs on Sept. 3) Ardelyx Inc (NASDAQ: ARDX ) ( reported positive results ...

  • GlobeNewswire

    Melinta Therapeutics Announces Appointment of Jennifer Sanfilippo to Interim Chief Executive Officer and Director

    Melinta Therapeutics, Inc. (MLNT), a commercial-stage company focused on the development and commercialization of novel antibiotics to treat serious bacterial infections, today announced that Jennifer Sanfilippo has been named interim chief executive officer and director, effective August 28, 2019. Prior to this appointment, Ms. Sanfilippo served as senior vice president and general counsel of Melinta. “Jennifer’s appointment to interim chief executive officer is the result of a thoughtful succession planning process undertaken by the board of directors.

  • What Kind Of Shareholder Appears On The Melinta Therapeutics, Inc.'s (NASDAQ:MLNT) Shareholder Register?
    Simply Wall St.

    What Kind Of Shareholder Appears On The Melinta Therapeutics, Inc.'s (NASDAQ:MLNT) Shareholder Register?

    A look at the shareholders of Melinta Therapeutics, Inc. (NASDAQ:MLNT) can tell us which group is most powerful...

  • Melinta Therapeutics, Inc. (MLNT) Reports Q2 Loss, Tops Revenue Estimates
    Zacks

    Melinta Therapeutics, Inc. (MLNT) Reports Q2 Loss, Tops Revenue Estimates

    Melinta Therapeutics, Inc. (MLNT) delivered earnings and revenue surprises of -19.46% and 13.96%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?

  • GlobeNewswire

    Melinta Therapeutics Names David Gill as Chairman and Announces CEO Succession Plan

    Melinta Therapeutics, Inc. (MLNT), a commercial-stage company focused on the development and commercialization of novel antibiotics to treat serious bacterial infections, today announced changes to its board of directors and executive management team. David Gill, a current Melinta board member, has been named chairman of the board of directors, effective immediately, succeeding Kevin Ferro, who voluntarily resigned from the position and the board of directors. John H. Johnson voluntarily resigned from his position as chief executive officer (CEO) due to changes in the Company’s circumstances and in order to pursue other opportunities.

  • GlobeNewswire

    Melinta Therapeutics Reports Second Quarter 2019 Financial Results and Provides Business Update

    ~ Revenue of $16.0 million, Including Net Product Sales of $13.8 million, for the Second Quarter 2019 ~ ~ Reduction of Operating Expenses of 32 Percent, or $16.3.

  • GlobeNewswire

    Melinta Therapeutics Announces Rescheduling of Second Quarter 2019 Financial Results Reporting

    Melinta Therapeutics, Inc. (MLNT), a commercial-stage company focused on the development and commercialization of novel antibiotics to treat serious bacterial infections, today announced that it will report its second quarter 2019 financial results on Friday, August 9, 2019. The Company also announced that it will cancel its 2019 second quarter conference call, which had been previously scheduled for Wednesday, August 7, 2019, at 8:30 a.m. ET. Melinta Therapeutics, Inc. is the largest pure-play antibiotics company, dedicated to saving lives threatened by the global public health crisis of bacterial infections through the development and commercialization of novel antibiotics that provide new therapeutic solutions.

  • Cronos (CRON) to Report Q2 Earnings: What's in the Cards?
    Zacks

    Cronos (CRON) to Report Q2 Earnings: What's in the Cards?

    Investors will focus on Cronos' (CRON) regular top and bottom-line numbers along with its pipeline progress when it reports second-quarter results.

  • Is a Beat in Store for Melinta (MLNT) This Earnings Season?
    Zacks

    Is a Beat in Store for Melinta (MLNT) This Earnings Season?

    Vabomere and Minocin are expected to drive Melinta's (MLNT) second-quarter revenues. Operating expenses are likely to be lower. The company may provide update on progress of Baxdela label expansion.

  • Melinta Therapeutics, Inc. (MLNT) Expected to Beat Earnings Estimates: What to Know Ahead of Q2 Release
    Zacks

    Melinta Therapeutics, Inc. (MLNT) Expected to Beat Earnings Estimates: What to Know Ahead of Q2 Release

    Melinta Therapeutics, Inc. (MLNT) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.