March 18, 2016
Milford biotech postpones $40M IPO
Courtesy
By Sam Bonacci
Spring Bank Pharmaceuticals, an early-stage biotech that develops small molecule therapies for hepatitis B and viral diseases, has postponed a $40 million initial public offering.
The Milford-based company had planned to offer an initial 2.86 million shares priced between $13 to $15 today, according to IPO advising organization Renaissance Capital. However, that IPO has been postponed indefinitely according to a report from Renaissance. Additional information was not available on when the IPO would be offered again or the reason for delaying the IPO.
Spring Bank Pharmaceuticals was founded in 2002 and will be listed on the Nasdaq under the symbol SBPH.
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