Quark Pharma IPO delayed
Quark Pharmaceuticals, the biotech chameleon I profiled here, delayed an IPO that the company expects to raise as much as $81 million, VentureWire reports (subscription required). The newswire said the Fremont, Calif., developer of RNA-interference drugs was slated to begin trading on the Nasdaq Stock Market today.
It’s hard to know what a postponement like this means, although I can’t help wondering if picky investors who have already turned up their noses at a number of biotech offerings this year are having second thoughts about Quark, which remade itself as an RNAi company on biotech’s cutting edge by acquiring two drug candidates and then renamed itself earlier this month. We’ll see when and if they make it out the IPO gate; watch to see if they come close to their predicted $12 to $14 per-share offering price.
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About the Author, David P. Hamilton
David Hamilton has been writing for VentureBeat LifeScience since April 2007. He formerly spent 14 years as a reporter for the Wall Street Journal in its San Francisco and Tokyo bureaus. Prior to that, he spent several years as a reporter at Science Magazine and as a reporter/researcher for the New Republic, both in Washington.