Abpro postpones $60 million IPO

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Abpro, a preclinical biotech developing novel antibodies for various cancers, postponed its IPO on Friday. It had filed to raise $60 million by offering 4 million shares at a price range of $14 to $16.

The Woburn, MA-based company was founded in 2004 and booked $2 million in revenue for the 12 months ended December 31, 2017. It had planned to list on the Nasdaq under the symbol ABP. UBS Investment Bank and Wells Fargo Securities were set to be the joint bookrunners on the deal.

The article Abpro postpones $60 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

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

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