New Jersey Implant Maker Braeburn Pharma Yanks Plans for $150 Million IPO

Published: Feb 03, 2017

Braeburn Pharmaceuticals Inc, the maker of the first long-acting implant to treat opioid addiction in the United States, said on Thursday that it had decided not to proceed with its initial public offering, citing current market environment.

The company, which filed to go public in late December, was expected to offer about 7.7 million shares in the price range of $18-$21 per share.

This decision does not preclude Braeburn and its sole shareholder Apple Tree Partners from considering an IPO or an alternative financing in the future, the company said in an emailed statement.

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