Melt Pharmaceuticals, a Phase 2 biotech developing non-opioid, non-IV sedatives and anesthesia, withdrew its plans for an initial public offering on Wednesday. It originally filed in September 2022 with a proposed deal size of $15 million. It had not updated its prospectus since then.
Melt is a clinical stage pharmaceutical company focused on the development and commercialization of proprietary non-opioid, non-IV, sedation and anesthesia therapeutics for human medical procedures in hospital, outpatient, and in-office settings.
The Brentwood, TN-based company was founded in 2018 and had planned to list on the Nasdaq under the symbol MELT. Aegis Capital Corp. was set to be the sole bookrunner on the deal.
