KineMed, which develops biomarker tests that measure disease progression to improve commercial drugs, withdrew its plans for an initial public offering on Wednesday. The company had originally planned to raise $32 million on June 24 by offering 4.5 million shares at a price range of $6.50 to $7.50. At the midpoint of the proposed range, KineMed would have commanded a fully diluted market cap of $121 million.
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