The US Bankruptcy Court gave an order approving the bidding procedures for an auction to select an Agent to conduct the sale of Zosano Pharma Corporation's assets on July 1, 2022. The Court approved the agency agreement between the debtor and successful bidder. To qualify as a qualified bidder, interested parties should submit their bids by July 18, 2022.

The initial minimum overbid should be in the amount of $0.03 million more than the initial purchase price. If the debtor receives any qualified bids then it would hold an auction for its assets on July 20, 2022. The sale hearing is scheduled for July 28, 2022.