MonoSol Rx withdraws IPO plans

WASHINGTON, March 27 Thu Mar 27, 2008 3:51pm EDT

WASHINGTON, March 27 (Reuters) - MonoSol Rx Inc on Thursday withdrew its plans for an initial public offering.

The drug delivery company said in a filing with the U.S. Securities and Exchange Commission that "terms currently obtainable in the public marketplace are not sufficiently attractive to warrant proceeding with such an offering."

MonoSol had previously filed for an IPO of 4 million shares at an estimated price of $16 to $18 each. (Reporting by Karey Wutkowski)

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