June 22, 2011 source: Genetic Engineering and Biotechnology News
On June 10, a day after withdrawing an $86 million IPO filed in November 2010, Ambit Biosciences reported securing $30 million in Series D-2 equity financing. “The terms currently obtainable in the public marketplace are not sufficiently attractive to the registrant to warrant proceeding with the public offering,” Ambit CFO Alan Fuhrman said in an SEC filing.
The company’s about-face caps about a year . . .
→ Read full post: What Does It Take to Swing the IPO Window Open for Biotechs? – Suggestions include selling at a discount at a time when there is a rising investor fan-base for social media.