Obesity play Gelesis postpones IPO

Obesity device developer Gelesis Inc. (Boston, Mass.) postponed its IPO on NASDAQ, which was to be underwritten by Piper Jaffray; Stifel; and Guggenheim. Last month, Gelesis said it hoped to sell 4 million shares at $12-$14. At $13, it would have raised $52 million and been valued at $178.7 million.

In an emailed statement, CEO Yishai Zohar cited a "turbulent" biotech IPO market and said Gelesis may consider pricing the IPO "as market conditions evolve." ...