Archemix withdraws IPO
February 7, 2008 08:35 AM
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Archemix Corp on Wednesday filed with the U.S. Securities and Exchange Commission to withdraw its plans for an initial public offering, saying unfavorable market conditions would adversely affect the IPO.
The Cambridge biotechnology company had planned to sell 4.5 million shares in the range of $12 to $14 each.
Bear Stearns & Co and Cowen and Co were underwriting the IPO. Archemix had planned to list its shares on the Nasdaq under the symbol "ARCH." (Reuters)
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