Irvine-based AtheroNova Inc. and a subsidiary have filed for bankruptcy protection.
The development-stage heart drug maker said in a statement that it would “evaluate all options,” including an asset sale to “a party who could potentially be interested in continuing [its] clinical programs.”
AtheroNova’s shares fell sharply in mid-February after it disclosed that it defaulted on a $427,500 loan that triggered defaults on three other loans.
The pre-revenue company, which has about four workers, posted a net loss of $8.2 million in the 12-month period ended last September.
Shares of AtheroNova closed down 59% to a market value of $207,014.
