Alzheon, a late-stage biotech developing small molecule therapies for Alzheimer's disease, postponed its IPO.
It had filed to raise $70 million by offering 5.0 million shares at a price range of $13 to $15. At the midpoint, Alzheon would would have commanded a fully diluted market value of $228 million.
The Framingham, MA-based company was founded in 2013 and had planned to list on the Nasdaq under the symbol ALZH. Citi and Piper Jaffray were set to be the joint bookrunners on the deal.
