KemPharm Denmark A/S agreed to acquire Substantially All Assets and Business Activities of Orphazyme A/S for $18 million on May 15, 2022. KemPharm will pay Orphazyme a total of $12.8 million in cash and assume liabilities estimated to equal approximately $5.2 million. Following completion of the deal, Orphazyme will no longer have any ongoing operational business activities. Under the agreement, KemPharm intends to retain substantially all of Orphazyme's current employees. On May 15, 2022, KemPharm also announced that they intend to resubmit the NDA for arimoclomol to the FDA in the first quarter of 2023. The deal is subject to approval by Orphazyme's creditors and the Danish bankruptcy court. As of May 18, 2022, the transaction is submitted to the Danish Maritime and Commercial High Court and a creditors' meeting to vote on the deal shall be held at the Maritime and Commercial High Court on May 30, 2022. The transaction is expected to be completed on or before June 1, 2022.