Rib-X postpones IPO

Rib-X Pharmaceuticals Inc. (New Haven, Conn.) postponed its planned IPO, citing market conditions. The move comes a day after the company's latest amendment to the offering. Rib-X hoped to sell 10 million shares at $6-$7 per share. A $6.50 price would have raised $65 million and valued the company at $129.4 million. Rib-X's delafloxacin, a broad spectrum fluoroquinolone antibiotic, is slated to begin Phase III testing next half to treat acute bacterial skin and skin structure infections (ABSSSI). ...