Nuvo Pharmaceuticals Inc NRIFF

Could this be the reason for the skittishness...?

[VictorKonstan]

Could be lots of reasons for the slow erosion of the stock price ....markets are in turmoil, tax loss selling, company indecisiveness, lack of updates, and past disappointments...etc.
But I think this article sums up what's driving the NRI stock price right now!  It appears that we may have fallen victim to the Government Shutdown in the U.S....And we may have even more delays in getting this Aralez deal consummated!  Hopefully we will get an official decision on the 27th...?

Aralez Ch. 11 Inches Forward With 'Weird' Sale Proposal

Share us on:    By Ryan Boysen

Law360 (December 19, 2018, 8:22 PM EST) -- Aralez Pharmaceuticals Inc.’s troubled Chapter 11 case appeared to take a small step forward on Wednesday, as a New York bankruptcy judge signaled he was open to approving what counsel called a “weird” deal that would let the debtor close on a $110 million asset sale by the end of the year.
The tentative proposal came together after the committee of unsecured creditors agreed to drop its objections to the sale of Aralez’s Canadian specialty pharmaceutical business to Nuvo Pharmaceuticals Inc., in exchange for the debtor setting aside $3.75 million in escrow that could be paid out to unsecured creditors once other procedural hurdles are cleared down the line. 
Attorneys for the committee, Nuvo and the debtor told U.S. Bankruptcy Judge Martin S. Glenn that Nuvo would walk away from the sale if it couldn’t close by the end of the year, and the present deal was necessary to ensure that doesn’t happen.
Judge Glenn agreed the proposal was simple enough in theory, but in practice it’s complicated by a second sale — of Aralez’s franchise rights to blood pressure medication Toprol XL to secured lender Deerfield Management Co. LP for $140 million — still waiting in the wings. AstraZeneca AB, Toprol’s manufacturer and the largest unsecured creditor in the case, has lodged an objection that will need to be resolved at trial before the sale can be completed. 
Even if the Nuvo deal goes smoothly, Judge Glenn said, the ultimate fate of the rest of the case — and the role the $3.75 million will play in it — remains far from clear. If ongoing mediation talks don't produce a global settlement, other creditors like AstraZeneca could go after that money if they don’t reach a separate deal with Aralez, for example.
“Your proposal still leaves everything hanging,” Judge Glenn said. “I’m very concerned about that.”
Robert J. Stark of Brown Rudnick LLP, who represents the committee, acknowledged that the plan was a “weird idea,” but said it was the best the parties could do under the circumstances.
“It’s still a step in the right direction, although not as surefooted as we’d like it to be,” Stark said.
Judge Glenn also chastised Stark and Paul V. Shalhoub of Willkie Farr & Gallagher LLP, who represents Aralez, for asking him to approve the revised sale order that day even though it hadn’t yet been filed on the docket.
“This is a public hearing and a public process,” Judge Glenn said. “All parties in interest are entitled to know the precise terms of this, even the ones not present in court today. If you think I’ll approve something that’s not on the docket. … It’s not going to happen.”
After much back-and-forth, Judge Glenn attempted to meet the parties halfway by directing them to file the proposed sale order by the end of Thursday along with a declaration explaining how it would affect the rest of the case.
If there are no objections by Dec. 26, Judge Glenn said, he could approve it on Dec. 27, giving Nuvo a few days to complete the transaction before its tax-related year-end deadline.
Complicating things further is the fact that even if there are no objections, Judge Glenn will need the U.S. Trustee, a taxpayer-funded bankruptcy watchdog, to approve the proposal before he can do so.
As Brian Matsumoto of the U.S. Trustee’s Office reminded the court, however, if Congress doesn’t find a way to avoid a government shutdown by Dec. 21, it could make it very difficult for him or a colleague to formally sign off on the deal next week.
Nonetheless, Judge Glenn told Stark and Shalhoub to file their papers tomorrow and get the ball rolling.
“All right,” Judge Glenn said. “I hope this works.”
Counsel for Aralez declined to comment.
The committee is represented by Robert J. Stark, Steven B. Levine, Howard S. Steel, Marek P. Krzyzowski and Jill L. Forster of Brown Rudnick LLP.
AstraZeneca is represented by Michael St. Patrick Baxter, Dennis B. Auerbach, Matthew Phelps and R. Alexander Clark of Covington & Burling LLP.
Aralez is represented by Paul V. Shalhoub, Robin Spigel and Debra C. McElligott of Willkie Farr & Gallagher LLP.
The case is Aralez Pharmaceuticals Holdings Ltd., case number 1:18-bk-12426, in the U.S. Bankruptcy Court for the Southern District of New York.

--Additional reporting by Alex Wolf. Editing by Alanna Weissman.