ARTICLE | Finance

D alternative

Clarus out of IPO queue; VCs bridge to Phase III for testosterone therapy

July 11, 2011 7:00 AM UTC

The market wasn't very friendly to Clarus Therapeutics Inc., which withdrew its IPO last week. But the company has received an undisclosed installment on a series D round from existing investors that it hopes will take its OriTex oral testosterone replacement therapy through Phase III testing.

The company filed last November to go public and had hoped to sell 5 million shares at $11-$13. A $12 price would have raised $60 million and valued the company at $217.7 million...