CEO Khurem Farooq (Gyroscope)

Hours be­fore ex­pect­ed de­but, Gy­ro­scope post­pones its IPO as 2 oth­er biotechs hold the line on their march to Nas­daq

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In a sur­pris­ing turn of events, UK-based Gy­ro­scope Ther­a­peu­tics has post­poned its IPO mere hours be­fore it was set to de­but on Nas­daq.

Work­ing on a gene ther­a­py for dry AMD, Gy­ro­scope was all set and ready to go pub­lic ear­li­er this week, set­ting terms for a $142 mil­lion raise with a price range of $20 to $22. But in the wee hours of Fri­day morn­ing, the com­pa­ny put out a press re­lease say­ing they would de­lay their de­but “in light of mar­ket con­di­tions,” CEO Khurem Fa­rooq said in a state­ment.

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Life Sciences Senior Associate

General Catalyst

San Francisco, CA, USA