Report: Rosetta May Have Dropped Nasdaq IPO Plans
Rosetta Genomics may have shelved its proposed initial public offering on the Nasdaq due to unfavorable market conditions, according to a report in Israel’s Globes Online this week.
As reported by RNAi News, Rosetta was planning on floating 3 million shares on the Nasdaq at between $11 and $13 each (see RNAi News, 9/7/2006). Assuming that the shares debuted at $12 and the exercise of an over-allotment option for the underwriters, Rosetta said it expected to net $37.1 million in the offering.
According to the Globes Online report, however, Rosetta has decided against the IPO, even though it believes it could have been completed at a lower share price.
Rosetta’s Chairman and CEO Isaac Bentwich declined to comment on the report. He also declined to say whether Rosetta is planning to make an announcement about the status of the planned IPO any time soon.
Artemis to Make Knock-Down Mice for Merck
Artemis Pharmaceuticals said this week that it has signed a deal to construct a “large number” of shRNA-engineered mouse models for use by Merck in in vivo functional analysis of select disease-related genes.
Under the deal, Artemis will create both constitutive and inducible knock-down mice using its proprietary vector construction, embryonic stem cell transfection, and inducible RNAi technologies. Merck will provide select shRNA sequences corresponding to mouse genes of interest.
Additional terms of the arrangement were not disclosed.