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Quark Pharmaceuticals this week pulled its planned initial public offering on the Nasdaq, marking the second false start the company has had in attempting to float shares in the US.

The life science firm hopes to raise up to $30 million in its IPO to help pay for its recent Scienion acquisition and for further development and commercialization of its tests and platforms.

The company cited "an extraordinarily volatile period in the global capital markets," which made an IPO inadvisable.

The Dutch molecular diagnostics firm could raise more than $120 million in the offering on the NYSE Euronext in Amsterdam.

Last summer its CEO said that the firm had no intention of pulling its IPO filed in 2008 but was waiting merely for the right time.

The company recently raised more than $40 million, bringing the total since its founding to more than $100 million. Its CEO said, however, that neither an IPO nor an acquisition is in CardioDx's immediate future.

The company reported a 36 percent increase in fourth-quarter revenues and 32 percent increase in yearly revenues; and CEO Gajus Worthington provided an update regarding the uptake of Fludigm's newest instruments and the company's fledgling diagnostics play.

Following exercise of the over-allotment option, Fluidigm said that its net proceeds from the offering were $78 million.

In a document filed with the SEC, the company said "it does not believe that it is practicable to pursue the contemplated public offering at this time."

Fluidigm first disclosed its renewed IPO effort in early December, reviving plans for a public offering that the company put on hiatus in September 2008 amid the economic downturn.


The New York Times reports on an effort to address in high school biology classes misconceptions regarding race and genetics.

60 Minutes speaks with Harvard's George Church about tackling the effects of aging and more.

In PLOS this week: rare alterations in Timothy syndrome, analysis of twins' gut microbiomes, and more.

GenomeWeb reports that Veritas Genetics is suspending its US operations.