IPO Withdrawal: ChemoCentryx (GSK)

Health and Healthcare

Published: November 17, 2008 1:23 pm

Last Updated: April 27, 2020 11:49 pm

Burningmoney On Friday, ChemoCentryx Inc. filed to withdraw its pending registration for an IPO of up to $57.5 million. The market conditions of today are cited as the reasoning. The Mountain View, California-based company said in its filing, "At this time, due to current public market conditions, the Company has determined not to proceed with the initial public offering contemplated…"

ChemoCentryx is an emerging drug developer for autoimmune andinflammatory diseases, as well as oncology. Credit Suisse was the leadunderwriter and the company has raised $50 million in venture backingfrom GlaxoSmithKline (NYSE: GSK) to a total amount raised of what looksto be more than $150 million from Glaxo and other venture investors.

This form "RW’ for withdrawal may have been no surprise to most as the initial filing came on November 9, 2007.

JON C. OGG
NOVEMBER 17, 2008

It’s Your Money, Your Future—Own It (sponsor)

Retirement can be daunting, but it doesn’t need to be.

Imagine having an expert in your corner to help you with your financial goals. Someone to help you determine if you’re ahead, behind, or right on track. With SmartAsset, that’s not just a dream—it’s reality. This free tool connects you with pre-screened financial advisors who work in your best interests. It’s quick, it’s easy, so take the leap today and start planning smarter!

Don’t waste another minute; get started right here and help your retirement dreams become a retirement reality.