PRESTWICK PHARMACEUTICALS WITHDRAWS IPO

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)