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.”

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER