Abpro, a preclinical biotech developing novel antibodies for various cancers, postponed its IPO on Friday. It had filed to raise $60 million by offering 4 million shares at a price range of $14 to $16.
The Woburn, MA-based company was founded in 2004 and booked $2 million in revenue for the 12 months ended December 31, 2017. It had planned to list on the Nasdaq under the symbol ABP. UBS Investment Bank and Wells Fargo Securities were set to be the joint bookrunners on the deal.
