BioSpace.com

Biotech and Pharmaceutical
News & Jobs
Search the Site
 
   
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Browse Biotech Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  US Device
Europe
Asia

DIVERSITY

INVESTOR
Market Summary
News
IPOs

PROFILES
Company Profiles

START UPS
Companies
Events

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Biotech Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
eNewsletter Signup
Miles
Km80.5

   

Aldagen, Inc. (ALDH) Pulls $80.5 Million IPO


4/6/2011 8:30:43 AM

Triangle Business Journal -- Aldagen Inc. has withdrawn its long-awaited $80.5 million IPO.

The Durham-based drug developer filed the withdrawal request with regulators on Tuesday, citing “market conditions and its determination that registration of the company’s securities is not in the best interest of the company at this time.”

Aldagen had filed an S-1 to go public in October 2009 for a maximum offering price of $80.5 million.

This was the second time the company attempted an IPO. In 2008, Aldagen filed an S-1 in May and withdrew it in October.

Most recently, the investigational new drug application for Aldagen’s regenerative cell therapy for stroke patients was accepted by the U.S. Food and Drug Administration in January for phase II trials.

Life science companies have seen a tough IPO market this year. Tranzyme Pharma (Nasdaq: TZYM), a clinical-stage biopharmaceutical company in Durham that went public on Monday, had to slash its offering price from the $11-$13 range to $4 a share to attract investors.


   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES