FDAnews Drug Daily Bulletin

PRESTWICK PHARMACEUTICALS WITHDRAWS IPO

Dec. 22, 2005
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Prestwick Pharmaceuticals Inc., whose drug products target chronic diseases of the central nervous system, on Tuesday withdrew its planned initial public offerings due to market conditions. The company had filed a preliminary offering document with the U.S. Securities and Exchange Commission in April seeking to raise as much as $74.75 million from the sale of common stock.

Reuters (http://today.reuters.com/investing/financeArticle.aspx?type=newIssuesNews&storyID=2005-12-20T230018Z_01_N20392838_RTRIDST_0_HEALTH-PRESTWICK-IPO.XML)