Aegerion Pharmaceuticals Inc. has delayed a scheduled IPO (Initial Public Offering) due to "market conditions". Aegerion was slated to sell 5 million shares of common stock at $12 to $14 per share. The net proceeds were to be used to repay debt, fund clinical programs and general corporate purposes.
The company also applied with the Securities and Exchange Commission for the withdrawal of its registration statement on Friday.
"The postponement of Aegerion's IPO has no impact on ongoing clinical programs, which continue to progress as scheduled," said President and Chief Executive Jerry Wisler.
Aegerion currently has two product candidates which are designed to lower cholesterol levels in patients by limiting the secretion of cholesterol and triglycerides, also known as lipids, from the intestine and liver.
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