Sienna Biopharmaceuticals, Inc. filed a motion in the US Bankruptcy Court seeking the conversion of its bankruptcy case from Chapter 11 reorganization to Chapter 7 liquidation on December 13, 2019. As per the motion filed by debtor, the debtor’s available cash and proceeds of the sale are not sufficient to repay the Prepetition Lender in full. The Debtor engaged in negotiations with the Prepetition Lender to extend the Debtor’s use of cash collateral to facilitate a chapter 11 plan process. The Debtor has no further sources of financing, no sources of additional, funds, and lacks the ability to fund ongoing administrative expenses that may be incurred after the closing of the sale. Therefore, the Debtor submits that converting the chapter 11 case to a case under chapter 7 in the best interests of its stakeholders and estate.