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         T R O U B L E D   C O M P A N Y   R E P O R T E R

              Saturday, April 22, 2023, Vol. 27, No. 111

                            Headlines

INVACARE CORP: Reports $17.77 Million Net Loss in February
PHASEBIO PHARMA: Reports $2.54 Million Net Loss in February

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INVACARE CORP: Reports $17.77 Million Net Loss in February
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Invacare Corporation filed with the U.S. Securities and Exchange
Commission its monthly operating report for February 2023.

The Debtor's statement of operations showed a net loss of $17.77
million on $9.84 million sales for the month.

As of February 28, 2023, the Debtor listed $612.52 million in total
assets, $818.04 million in total liabilities, and -$205.52 million
in total shareholders' equity.

The Debtor started the month with $1.07 million cash.  It listed
total cash receipts of $40.40 million and total disbursements of
$20.55 million. Thus, the Debtor had $20.92 million cash at month
end.

A copy of the monthly operating report is available at the SEC at:
    
                   https://bit.ly/3zFej4u

                 About Invacare Corporation

Headquartered in Elyria, Ohio, Invacare Corporation (IVC) is a
leading manufacturer and distributor in its markets for medical
equipment used in non-acute care settings.  The company provides
clinically complex medical device solutions for congenital (e.g.,
cerebral palsy, muscular dystrophy, spina bifida), acquired (e.g.,
stroke, spinal cord injury, traumatic brain injury, post-acute
recovery, pressure ulcers) and degenerative (e.g., ALS, multiple
sclerosis, elderly, bariatric) ailments. Invacare employs
approximately 3,400 associates and markets its products in more
than 100 countries around the world.

Invacare Corp. and 2 U.S. subsidiaries sought protection under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Lead Case
No. 23-90068) on January 31, 2023. In the petition signed by
Kathleen Leneghan, senior vice president and chief financial
officer, the Debtor disclosed up to $1 billion in both assets and
liabilities.

The Debtors tapped Kirkland and Ellis, LLP and Kirkland and
International LLP as bankruptcy counsel, McDonald Hopkins, LLC as
bankruptcy co-counsel, Huron Consulting Group as restructuring
advisor, Miller Buckfire and Co. as financial advisor and
investment banker, and Epiq Corporate Restructuring, LLC, as
claims, noticing, and solicitation agent and administrative
advisor. Street Advisory Group, LLC is serving as strategic
communications advisor to the company.

Judge Christopher M. Lopez oversees the cases.

The DIP Term Loan Lenders led by Cantor Fitzgerald Securities, as
administrative agent, and GLAS Trust Corporation Limited, as
collateral agent, have retained Davis Polk & Wardwell LLP, Ducera
Partners, Porter Hedges LLP, Baker & McKenzie LLP, McDermott Will &
Emery LLP, Shipman & Goodwin LLP as advisors.

PNC Bank, National Association, and the ABL DIP Lenders, have
retained Blank Rome LLP, and B. Riley Advisory Services as
advisors.

Brown Rudnick LLP is serving as legal counsel and GLC Advisors &
Co., LLC is serving as investment banker to the ad hoc committee of
unsecured notes.

The U.S. Trustee for Region 7 appointed an official committee to
represent unsecured creditors in the Debtors' Chapter 11 cases. The
committee is represented by Kilpatrick Townsend & Stockton, LLP.


PHASEBIO PHARMA: Reports $2.54 Million Net Loss in February
-----------------------------------------------------------
PhaseBio Pharmaceuticals, Inc., filed with the U.S. Securities and
Exchange Commission its monthly operating report for February
2023.

The Debtor's statement of operations showed a net loss of $2.54
million for February.

As of February 28, 2023, the Debtor listed $20.55 million in total
assets, $29.88 million in total liabilities, and -$9.33 million in
total shareholders' equity.

The Debtor started the month with $17.63 million cash.  It listed
total cash receipts of $2.94 million and total disbursements of
$5.48 million. Thus, the Debtor had $15.09 million cash at month
end.

A copy of the monthly operating report is available at the SEC at:

                   https://bit.ly/3MEf8C0

                About Phasebio Pharmaceuticals

PhaseBio Pharmaceuticals, Inc. -- https://www.phasebio.com/ -- is
focused on the development and commercialization of novel therapies
to treat orphan diseases, with an initial focus on cardiopulmonary
indications. It is based in Malvern, Pa.

PhaseBio Pharmaceuticals filed a petition for relief under Chapter
11 of the Bankruptcy Code (Bankr. D. Del. Case No. 22-10995) on
Oct. 24, 2022. In the petition filed by its chief executive
officer, Jonathan Mow, the Debtor reported $17,970,000 in assets
and $21,320,000 in debt as of Aug. 31, 2022.

Judge Laurie Selber Silverstein oversees the case.

The Debtor tapped Cooley LLP as lead bankruptcy counsel; Richards,
Layton & Finger, PA as Delaware bankruptcy counsel;
SierraConstellation Partners, LLC as financial advisor; KPMG, LLP
as tax consultant; and Miller Buckfire & Co. as investment banker.
Omni Agent Solutions is the claims, noticing and administrative
agent.

The U.S. Trustee for Region 3 appointed an official committee of
unsecured creditors in the Debtor's case on Nov. 3, 2022. McDermott
Will & Emery, LLP and FTI Consulting, Inc. serve as the committee's
legal counsel and financial advisor, respectively.


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Troubled Company Reporter is a daily newsletter co-published
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Pennsylvania, USA, and Beard Group, Inc., Philadelphia, Pa., USA.
Randy Antoni, Jhonas Dampog, Marites Claro, Joy Agravante,
Rousel Elaine Tumanda, Joel Anthony G. Lopez, Psyche A. Castillon,
Ivy B. Magdadaro, Carlo Fernandez, Christopher G. Patalinghug, and
Peter A. Chapman, Editors.

Copyright 2023.  All rights reserved.  ISSN: 1520-9474.

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