Visterra, which is developing vaccines for influenza A, Dengue, Zika and multiple myeloma, withdrew its plans for an initial public offering on Friday. On Thursday Visterra announced it was postponing its IPO indefinitely. It had filed to raise $50 million by offering 3.9 million shares at a price range of $12 to $14.
The Cambridge, MA-based company was founded in 2007 and booked $15 million in sales for the 12 months ended September 30, 2016. It had planned to list on the Nasdaq under the symbol VIST. Leerink Partners and Stifel were set to be the joint bookrunners on the deal.
The article Flatline: Vaccine biotech Visterra officially withdraws $50 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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