Sienna Biopharmaceuticals, Inc. – Further to Disappointing Auction and Pre-Petition Lender’s Refusal to Extend Access to Cash Collateral, Debtor Seeks Conversion to Chapter 7

December 13, 2019 – As it had signalled at a December 9th sale hearing, the Debtor filed a motion seeking conversion of the Debtor's Chapter 11 case to a case under Chapter 7 [Docket No. 254]. For the Debtor, which was only able to generate $1.7mn in asset sale proceeds at a disappointing December 5th…