By Amelia Pollard | Bloomberg
Lucira Well being Inc., a publicly traded maker of at-home Covid-19 checks, filed for Chapter 11 chapter on Wednesday.
Emeryville -based Lucira listed property of about $146 million and liabilities of about $85 million in its chapter petition. The corporate will preserve working throughout chapter because it seeks to promote itself, in response to a press release.
Lucira sells an at-home Covid take a look at that gives “lab-quality outcomes” in half-hour, in response to its web site. A single take a look at is listed for $35 on the positioning.
Declining Covid-19 restrictions crimped demand for the checks, squeezing Lucira, Chief Government Officer Erik Engelson mentioned within the assertion. Slower-than-expected regulatory approval for a flu take a look at equipment additionally harm the corporate, he mentioned.
Enterprise capital agency Eclipse Ventures holds a couple of 10% stake in Lucira, making it the corporate’s greatest shareholder, courtroom papers present.
The case is Lucira Well being, Inc., 23-10242, U.S. Chapter Courtroom for the District of Delaware.
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