Report: Essential cancels PH-2 development and company is looking for a buyer [Updated]

Update: In a leaked email (obtained by The Information), Rubin said the company is "working with bankers to raise money," and an acquisition might be part of such discussions. He, however, made it clear the company isn't shutting down. Referring to the Bloomberg article, he said it "will not position us well for optimizing" the fundraising effort," adding that "I'm going to focus on winning and not whining." He also said "no one (including me at this moment) knows what the best thing for the company will be." Original story follows: A new report comes from Bloomberg today where a...

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