Cash not forcing Oclassen IPO

With break-even cash flow from product sales and a full pipeline of later-stage products in the clinic, Oclassen Pharmaceuticals Inc. has seemed especially fitted to the increasingly rigorous demands of the Street.

But its proposed IPO of 3 million shares at $17 to $19 per share, which was registered in January, has languished in the stale offerings market and the company now must consider whatever effects may result from the suspension of clinical trials of its antiviral drug FIAU by licensee Eli Lilly and Co...