ARTICLE | Finance
Ambit's gambit
Cancer play Ambit withdraws IPO; garners more venture capital instead
June 13, 2011 7:00 AM UTC
The day after cancer play Ambit Biosciences Corp. withdrew an IPO, it revealed that existing investors had ponied up $30 million in a series D-2 round.
That took the mystery out of its SEC filing withdrawing the IPO, which dubbed the proposed public financing "discretionary" and added that current marketplace terms were "not sufficiently attractive to warrant the offering."...