Penny stock pulls back on offering up more of its shares amid ‘current market conditions’
As some biotechs continue to rethink IPOs or SPAC deals in the current market, other companies are pausing on selling off more shares.
The Boston-based RNA biotech TransCode Therapeutics on Tuesday announced that it has withdrawn its S-1 filing with the SEC that it made in late November. TransCode said in a brief press release that the withdrawal is reflective of TransCode’s belief that “current market conditions are not conducive for an offering on terms that would be in the best interests of the company’s stockholders.”
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