News & Insights Client News News & Insights Client News Gritstone bio Takes Action to Preserve Value and Strengthen Capital Structure Oct 10, 2024 Voluntarily Files for Chapter 11 Restructuring Strategic Alternatives Process Continues with Interest from Parties October 10, 2024 – Gritstone bio, Inc. (Nasdaq: GRTS) (“Gritstone” or the “Company”), a clinical-stage biotechnology company working to develop the world’s most potent vaccines, today announced it has filed a voluntary petition under chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. Gritstone intends to use the court-administered restructuring process to preserve value and support its ongoing strategic alternatives process. The Company is in discussions with a party to act as a stalking horse bidder or plan sponsor and intends to present an agreement to the Court as early as next week in order to enter into a value-maximizing transaction and continue to research and develop its next-generation vaccines and immunotherapies for oncology and infectious diseases. “Our world-class science and cutting-edge innovations have positioned us at the forefront of oncology and medical breakthroughs. We recently reported encouraging interim Phase 2 data from our ongoing study evaluating GRANITE, which continues to demonstrate an emerging benefit for patients, however, additional time is needed for the data to mature,” said Andrew Allen, MD, PhD, Co-founder, President & CEO of Gritstone. “The decision to file for chapter 11 relief allows us to stay focused on our mission of bringing potentially life-saving treatments like GRANITE to patients around the world.” During its financial restructuring process, Gritstone intends to operate in the ordinary course and remains committed to advancing its clinical programs, including its ongoing neoantigen immunotherapy and infectious disease programs, and driving innovation in immunotherapy and vaccine development. Gritstone is filing customary “first day” motions in its chapter 11 case with the intention of ensuring normal operations. Upon court approval of these first day motions, Gritstone intends to minimize the impact of the bankruptcy process on the Company’s vendors, employees, and other key stakeholders. Additional information regarding Gritstone’s chapter 11 process is available at https://www.veritaglobal.net/gritstone. Stakeholders with questions may call the Company’s Claims Agent, Verita Global, at 877-709-4754 or 424-236-7233 if calling from outside the U.S. or Canada, or send an inquiry by visiting https://www.veritaglobal.net/gritstone/inquiry. Advisors Pachulski Stang Ziehl & Jones LLP is serving as legal counsel, Fenwick & West LLP is serving as general corporate counsel, Raymond James & Associates, Inc. is serving as investment banker, PwC is serving as financial advisor, and C Street Advisory Group is serving as strategic communications advisor to the Company. About Gritstone Gritstone bio, Inc. (Nasdaq: GRTS) is a clinical-stage biotechnology company that aims to develop the world’s most potent vaccines. We leverage our innovative vectors and payloads to train multiple arms of the immune system to attack critical disease targets. Independently and with our collaborators, we are advancing a portfolio of product candidates to treat and prevent viral diseases and solid tumors in pursuit of improving patient outcomes and eliminating disease. www.gritstonebio.com Share this article Featured Insights The Comeback Playbook: How Strategic Communications and Branding Drive Corporate Turnarounds Related Articles Oct 28, 2025 Ryan Blaine Bennett Appointed Chair of Willkie Farr & Gallagher Restructuring Group Veteran restructuring lawyer to lead and expand Willkie’s premier restructuring platform NEW YORK–(BUSINESS WIRE)–Willkie Farr... Read the Article Aug 5, 2024 SunPower Announces Stalking Horse Asset Purchase Agreement with Complete Solaria to Sell Blue Raven Solar, New Homes, and its Non-Installing Dealer Network Files voluntary Chapter 11 petitions to effectuate the proposed transaction Intends to operate Blue Raven... Read the Article Mar 13, 2025 NCM Unveils Strategic Growth Opportunities for Long-Term Shareholder Value Creation at 2025 Investor Day Reintroduces annual dividend of $0.12 per share Provides plans to accelerate advertising growth through investment... Read the Article Jul 9, 2025 Sunnova Enters into Stalking Horse Asset Purchase Agreement with Omnidian Omnidian to Serve as Stalking Horse Bidder for Sunnova’s Residential Solar Servicing and Operations &... Read the Article May 1, 2025 ZIPS Car Wash Announces Successful Emergence from Financial Restructuring and Appointment of Industry Leader Pete Nani as Chief Executive Officer Company emerges well-positioned to seize new growth opportunities and continue delivering with excellence for customers... Read the Article Aug 11, 2025 Brook + Whittle Secures $130 Million of New Financing Transaction extends maturities and provides new capital to invest in operational excellence and growth strategy... Read the Article Ready to Start the Conversation? Contact us today to discover how we can help you effectively engage with your stakeholders. Speak with an Expert
Oct 28, 2025 Ryan Blaine Bennett Appointed Chair of Willkie Farr & Gallagher Restructuring Group Veteran restructuring lawyer to lead and expand Willkie’s premier restructuring platform NEW YORK–(BUSINESS WIRE)–Willkie Farr... Read the Article
Aug 5, 2024 SunPower Announces Stalking Horse Asset Purchase Agreement with Complete Solaria to Sell Blue Raven Solar, New Homes, and its Non-Installing Dealer Network Files voluntary Chapter 11 petitions to effectuate the proposed transaction Intends to operate Blue Raven... Read the Article
Mar 13, 2025 NCM Unveils Strategic Growth Opportunities for Long-Term Shareholder Value Creation at 2025 Investor Day Reintroduces annual dividend of $0.12 per share Provides plans to accelerate advertising growth through investment... Read the Article
Jul 9, 2025 Sunnova Enters into Stalking Horse Asset Purchase Agreement with Omnidian Omnidian to Serve as Stalking Horse Bidder for Sunnova’s Residential Solar Servicing and Operations &... Read the Article
May 1, 2025 ZIPS Car Wash Announces Successful Emergence from Financial Restructuring and Appointment of Industry Leader Pete Nani as Chief Executive Officer Company emerges well-positioned to seize new growth opportunities and continue delivering with excellence for customers... Read the Article
Aug 11, 2025 Brook + Whittle Secures $130 Million of New Financing Transaction extends maturities and provides new capital to invest in operational excellence and growth strategy... Read the Article