Zars Parma IPO postponed for next week-underwriter

NEW YORK, Sept 20 Thu Sep 20, 2007 6:52pm EDT

NEW YORK, Sept 20 (Reuters) - Zars Pharma Inc, a Salt Lake City pharmaceutical company, has postponed its initial public offering to next week, an underwriter said on Thursday.

The 5-million share offering was initially expected to price on Wednesday, and then on Thursday.

The company, in an earlier filing with the U.S. Securities and Exchange Commission, said it expected the share offering to sell for between $14 and $16 per share.

Underwriters, led by Cowen & Co and CIBC World Markets, have an option to purchase an additional 750,000 shares to cover overallotments.

The company has been approved to list its stock on Nasdaq under the symbol "ZARS" ZARS.O. (Reporting by Lilla Zuill)