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On Friday Bind Therapeutics (BIND) had soared as much as 110% in after-hours trade, after it announced a "stalking horse" bid by Pfizer (PFE). Under the terms of this bid Pfizer has agreed to acquire all of binds assets for a total of $20 million in an all cash-type transaction. The company has been in a rough spot in terms of developing its Accurins platform. 

Bind has developed deals using its Accurins platform with other big pharma companies such as Pfizer, Roche (RHHBY) , AstraZeneca (AZN), and Merck & co. (MRK) as well. Although, early results with a deal reached with Amgen left the company in a rough spot. Back in 2014 Amgen (AMGN) cancelled its deal with Bind, because a collaboration using both platforms targeting cancer failed to produce good enough results to move forward. 

With the share price diminishing over the years, Bind had finally run out of funds. Finally, a few months ago in May Bind had filed for Chapter 11 Bankruptcy protection. Now the company hopes to sell its assets to Pfizer for the $20 million amount in hopes of acquiring some money. Bind has requested to the bankruptcy court that a bid auction be done by July 25, 2016. 

If no other bids are made by July 22, 2016 then Bind will sell all its assets to Pfizer. If all goes well with the bid then the completed sale of all assets should be accomplished by the third quarter of 2016. Considering Pfizer was one of the largest collaborator for the Accurins platform, as they were going to pay up to $210 million in potential milestone payments, it is likely that they will be the final bidder for the platform.