Early-stage biotech Microlin Bio postpones $28 million IPO

By
A A A

Microlin Bio, a diagnostic and therapeutics biotech focusing on microRNA and its role in oncology, postponed its IPO on Wednesday. The recently-formed biotech had previously revised its terms several times, most recently adding warrants. It had planned to raise $28 million by offering 5.5 million units at a range of $4.50 to $5.50, and would have commanded a market cap of $51 million.

Microlin Bio has exclusive licensing agreements with Ohio State University on a portfolio of over 250 patents covering mircroRNA. However, the company may need to show more advanced results before it can get public investors on board. 

The New York, NY-based company was founded in 2013 and burned through about $7 million during the 12 months ended March 31, 2014. It had planned to list on the NASDAQ under the symbol MCLB. Brean Capital and Summer Street Research Partners were set to be the joint bookrunners on the deal.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: News Headlines , IPOs

Referenced Stocks: MCLB

Renaissance Capital

Renaissance Capital

More from Renaissance Capital:

Related Videos

Budgeting for Baby
Budgeting for Baby                  
A Home to Retire In
A Home to Retire In                 

Stocks

Referenced

Most Active by Volume

86,692,048
  • $16.82 ▼ 1.35%
66,073,054
  • $13.30 ▼ 6.27%
54,801,491
  • $14.59 ▼ 1.35%
54,305,010
  • $76.55 ▼ 3.15%
53,982,567
  • $3.42 ▼ 2.01%
53,146,472
  • $97.21 ▼ 1.60%
50,334,521
  • $99.18 ▼ 1.56%
44,049,276
  • $25.03 ▼ 0.56%
As of 10/1/2014, 04:15 PM

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com