Sienna Biopharmaceuticals has filed a notification with the U.S. Food and Drug Administration seeking permission to sell its drug SNA-001, a topical pre-treatment for laser removal of light hair, according to a statement from the company on Monday.

The Westlake Village biopharmaceutical business filed for Chapter 11 in September and has been looking for ways to “maximize stakeholder value,” Sienna said in the statement.

Market data indicate that the commercialization of SNA-001 could increase the number of laser hair removal procedures by 27 percent in the U.S.

Shares of Sienna (SNNA) closed Monday up 5 cents, or 19 percent, to 30 cents on the Nasdaq.