NEW YORK, July 27 Quark Pharmaceuticals Inc.,
a clinical-stage biopharmaceutical company, said on Friday it
was withdrawing its initial public offering filing, citing
In a filing with the U.S. Securities and Exchange
Commission, the company said "terms currently obtainable in the
public marketplace are not sufficiently attractive" to go ahead
with the IPO.
The Fremont, California, company said in June it was
postponing the offering, which had been expected to price 5
million shares at $12 to $14 each. Underwriters were led by
JPMorgan Chase and Bank of America.
The company had applied for a Nasdaq listing under the
The initial market capitalization of the company would have
been $237.6 million after the IPO, assuming the mid-point of
the offer price range.
(Reporting by Megan Davies)