Ark postpones IPO

Ark Therapeutics (London, U.K.) postponed its London IPO due to adverse market conditions. "We were well received by institutional investors but by the end of the road show the general sentiment for U.K. listings had begun to slow," said CEO Nigel Parker. Ark was looking to raise L30-L40 million ($43.9-$58.6 million) in the deal, the top end of which would have given a post money valuation of about L140 million ($204.9 million). The company has about L20 million ($29.3 million) in cash, which is expected to last 18-24 months. ...