Rib-X Pharmaceuticals, Inc. Postpones IPO After Slashing Price by 50 Pct

Rib-X Pharmaceuticals Inc., an antibiotic developer based in New Haven, Conn., on Wednesday morning postponed its anticipated IPO only one day after it cut the price about 50 percent, according to information from the Nasdaq OMX Group Inc. citing Renaissance Capital. The company did not return calls for comment. A source close to the company confirmed that the IPO was postponed because of market conditions. The source said the filing is still active, and that company still is in a quiet period.