GenSight Biologics, which is developing gene therapies for rare retinal diseases, withdrew its plans for an initial public offering on Thursday. It had filed to raise $65 million by offering 4.7 million shares at a price range of $13 to $15.
It is the second biotech to withdraw IPO papers in two days, following Bavarian Nordic's (BAVN) withdrawal on Wednesday.
Another biotech developing gene therapies for rare retinal diseases, Spark Therapeutics (ONCE), went public in early 2015 and trades 53% above its offer price, but well below its first-day close.
The Paris, France-based company was founded in 2012 and planned to list on the Nasdaq under the symbol GNST. Leerink Partners, Evercore ISI and Canaccord Genuity were set to be the joint bookrunners on the deal.
