PolyPid withdraws IPO

PolyPid Ltd. (Petach Tikva, Israel) withdrew its proposed IPO on NASDAQ. CBO Asaf Bar said the company is confident it could have gone public under current market conditions, but anticipates undisclosed milestones in the next few months that could boost its valuation.

In January, PolyPid said it was seeking to sell 1.8 million shares at $10-$12 in an offering underwritten by Aegis Capital; MLV; and Chardan Capital Markets. At $11, it would have raised $20 million and been valued at $106.3 million. ...