NEW YORK, Feb 26 – Genometrix on Monday withdrew its application for an initial public offering, citing poor market conditions.

“The markets are so volatile, we decided not to proceed with it [the offering] at this time,” said Bobbie Ireland, senior manager of marketing communications at Genometrix of The Woodlands, Texas.

Ireland said the company, which filed for the IPO with the US Securities and Exchange Commission last March, has recently started working with banks in an effort to secure private financing.

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