Reason #3: It’s Time To Stop The Bleeding
Investors that have owned SNNA for a while have lost a ton of money; so much, in fact, that for many it wasn’t worth selling at lows as any chance of a recovery of some of the losses would be beneficial.
With the bankruptcy in mind, investors aren’t likely to recover much of their losses, but they are likely to get something back. At this point, something is better than nothing.
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Over the past year, Sienna Biopharmaceuticals has worked its way in the space between a rock and a hard spot. While this has been rough on investors, the bankruptcy may result in an acquisition of the company or its assets, potentially creating somewhat of a return for investors. All though this is not the end result that anyone wanted, it sets the stage for losses to be cut.
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