Light Sciences Oncology Inc. withdrew its IPO filing Friday, citing “unfavorable market conditions.” It originally filed IPO paperwork in April 24, 2006. It was approved for listing on NASDAQ with ticker symbol “LSON,” and it had planned to offer over 5 million shares at $14 to $16 each.
Light Sciences Oncology develops innovative technology that treats solid tumors with its light-activated Light Infusion Therapy (Litx). The technology could potentially treat cancer as a chronic disease because it has the capability to be used repeatedly throughout a patient’s life. Clinical testing for patients with metastatic colorectal cancer and hepatoma are in Phase III testing and treatment for glioma is in Phase II testing.
Light Sciences Oncology isn’t the only recent withdrawal citing, “unfavorable market conditions” lately. Tully’s Coffee is another recent victim of the looming recession. SPAC’s seem to be the only brave ones still submitting IPO filings .
Rachel Lopez
February 8, 2008