Skip to main content
Premium Trial:

Request an Annual Quote

uBiome Files for Chapter 7 Liquidation

NEW YORK — Microbial genomics firm uBiome said today that it has filed to convert its recently declared Chapter 11 bankruptcy to a Chapter 7 liquidation.

Under Chapter 11 of the US Bankruptcy Code, uBiome can attempt to reorganize in order to preserve the business and pay its creditors over time. Under Chapter 7, the company would sell its nonexempt property and distribute the proceeds to creditors, effectively ending its operations.

San Francisco-based uBiome said it was unable to secure access to post-bankruptcy financing or settle disputes with the fiduciaries representing its unsecured creditors. As a result, it has determined that liquidation is in the best interest of the company and its shareholders, it said.

Last month, uBiome filed for Chapter 11 following the launch of a US Federal Bureau of Investigation inquiry into its billing practices, a management shake up, and the suspension of certain business activities. At the time, the company had intended to continue sales of its main commercial product, the Explorer microbiome analysis kit.

The Scan

Self-Reported Hearing Loss in Older Adults Begins Very Early in Life, Study Says

A JAMA Otolaryngology — Head & Neck Surgery study says polygenic risk scores associated with hearing loss in older adults is also associated with hearing decline in younger groups.

Genome-Wide Analysis Sheds Light on Genetics of ADHD

A genome-wide association study meta-analysis of attention-deficit hyperactivity disorder appearing in Nature Genetics links 76 genes to risk of having the disorder.

MicroRNA Cotargeting Linked to Lupus

A mouse-based study appearing in BMC Biology implicates two microRNAs with overlapping target sites in lupus.

Enzyme Involved in Lipid Metabolism Linked to Mutational Signatures

In Nature Genetics, a Wellcome Sanger Institute-led team found that APOBEC1 may contribute to the development of the SBS2 and SBS13 mutational signatures in the small intestine.