Codiak Biosciences Files for Chapter 11 Bankruptcy Protection.
Codiak BioSciences has filed for Chapter 11 bankruptcy and most executives, including founder Doug Williams, are leaving the company. Codiak is currently in talks with potential buyers and expects to sell the entire company or core assets soon. The biotech was founded in 2015 with the goal of turning exosomes into medicines. The bankruptcy news caused the stock to drop by 30%.