This report was first published by Endpoints News. To see the original version, click here
The current biotech environment can apparently support an industry-record IPO and simultaneously hamper efforts to raise half a billion dollars.
Summit Therapeutics ditched plans for a $500 million public offering, the company disclosed in an SEC filing on Thursday, citing “market conditions.” It was a stunning turnabout — the company had just announced Tuesday that it would put the offering together.
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