IPO WITHDRAWAL: Light Sciences Oncology (LSON)

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By Douglas A. McIntyre Updated Published

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

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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