The US Bankruptcy Court approved the first amended plan of liquidation of Allena Pharmaceuticals, Inc. on May 18, 2023. The debtor has filed its amended plan in the Court on May 15, 2023. As per the amended plan, administrative claims of $0.01 million, priority tax claims of $0.01 million and Statutory fees shall be paid in full in cash.

General unsecured claims of $8.42 million will be paid 10% in cash. Pontifax True-Up obligation claims shall receive pro rata share paid in cash. Subordinated claims shall be cancelled and interests shall receive non distribution under the plan.

The plan shall be funded through cash in hand and sale of assets. Allena Pharmaceuticals, Inc. filed a solicitation version of plan of liquidation with related disclosure statement in the US Bankruptcy Court on April 12, 2023. As per the plan filed, there is no change in treatment of any claim class or source of funding.