NetGenics Withdraws Application for IPO, Citing Market Conditions | GenomeWeb

NetGenics withdrew its proposed $60 million to $70 million initial public offering in a filing with the Securities and Exchange Commission last week.

Victor Peroni, NetGenics’ director of operations and controller, said that the company was canceling the IPO due to market conditions, and because the pre-IPO quiet period had prevented the company from making positive public statements.

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