EndoStim Pulls Out of $35 Million IPO
EndoStim today officially spiked an initial public offering it hoped would raise $35 million for its neurostimulation device for gastroesophageal reflux disease.
EndoStim, which had planned to put $10 million of the IPO’s proceeds into clinical studies and another $14 million to commercialize the system, tabled the offering in October 2014. Today the company filed a formal withdrawal request with the U.S. Securities & Exchange Commission, citing “market conditions.”
EndoStim, which had planned to put $10 million of the IPO’s proceeds into clinical studies and another $14 million to commercialize the system, tabled the offering in October 2014. Today the company filed a formal withdrawal request with the U.S. Securities & Exchange Commission, citing “market conditions.”