💥New Chapter 11 Bankruptcy Filing - DMK Pharmaceuticals Corporation ($DMK)💥

Pharma company seeks to negotiate with DOJ and creditors over a plan.

On February 2, 2024, NJ-based DMK Pharmaceuticals Corporation (OTCMKTS: $DMKPG) and five affiliates (together, the “debtors”) filed chapter 11 bankruptcy cases in the District of Delaware (Judge Walrath). DMK represents a family of pharmaceutical companies owning a portfolio of treatments, including five therapies, two of which have obtained approval from the FDA and are commercially saleable. The two commercial therapies include (i) Symjempi and (ii) Zimhi. The former is a transportable injection of epinephrine (very similar to Epipen) indicated for the emergency treatment of allergic reactions; the latter, which was acquired as part of a mid-’23 — and now controversial (see below) — merger, is an opioid antagonist for the emergency treatment of opioid overdoses and fentanyl poisonings.