Targeted Medical withdraws $118 million IPO


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Targeted Medical Pharma, a specialty pharmaceutical company that sells medical food products in the US, withdrew its plans for an initial public offering on Tuesday citing no plans to file an updating amendment and pursue a public offering at this time.

The Los Angeles, CA-based company, which was founded in 1996 and booked $23 million in sales for the 12 months ended June 30, 2011, planned to list on the NASDAQ under the symbol TMP. Targeted Medical Pharma initially filed to raise up to $118 million in an initial public offering on February 14, 2011. Sunrise Securities Corp. was set to be the sole bookrunner on the deal.

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

This article appears in: News Headlines IPOs
Referenced Stocks: TMP

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