(Adds reason for IPO withdrawal; previous WASHINGTON)
NEW YORK, Sept 8 U.S. biopharmaceutical company
Insys Therapeutics Inc filed to withdraw its plans for an $86.3
million initial public offering, citing market conditions.
The company, which develops products to address
chemotherapy-induced nausea, said in a filing on Monday with
the U.S. Securities and Exchange Commission that "terms
currently obtainable in the public marketplace are not
sufficiently attractive." The deal was to have been led by UBS
Another life sciences company, XDx Inc, which develops gene
expression-based tests for monitoring transplant rejection,
filed to withdraw its IPO on Friday citing market conditions.
It had planned to raise $86.3 million. The lead underwriters on
that deal were JP Morgan (JPM.N) and Morgan Stanley (MS.N).
Both companies had planned to list their shares on the
The two pulled deals bring the total number of withdrawn
IPOs in the United States to 58 so far this year, twice the
number of deals that have priced.
(Reporting by Phil Wahba in New York, Karey Wutkowski in
Washington, editing by Leslie Gevirtz)