Centrexion steps back from IPO amid volatile market

Centrexion Therapeutics Corp. (Boston, Mass.) told BioCentury on Nov. 16 that it will not be moving forward with its NASDAQ IPO. The decision by the pain company comes as market volatility has increased and several biotechs have failed to hit their desired valuations.

In the month prior, at least six biotechs went public with lower valuations than they would have received at the midpoint of their proposed range...