The US Bankruptcy Court gave an order approving the sale procedures relating to the sale of De Minimis assets of PhaseRx, Inc on February 20, 2018. The debtor has been authorized to sell immediately its De Minimis asset for a purchase price of $0.02 million in cash and required to serve notice in case the sale value is in range of $0.02 million but less than $0.25 million to the United States Trustee, counsel to Hercules Capital, Inc. any known party that Debtor believes could claim an interest in the De Minimis Asset proposed to be sold. The Debtor needs to take seprate court approval in case where vale of De Minimis assets exceeds $0.25 million. The De Minimis asset include technical equipment, office equipment and furniture.