News Column

BRIEF: VBL Therapeutics cancels Nasdaq IPO

August 10, 2014

By Gali Weinreb, Globes, Tel Aviv, Israel

Aug. 10--VBL Therapeutics(Nasdaq:VBLX) has canceled its Nasdaq IPO even after it has begun trading on Wall Street. Underwriters Wells Fargo and Deutsche Bank announced that one of the lead US investors has not transferred the amount promised, and it has consequently not been possible to close the offering at the specified price.

The underwriters announced that the offering is cancelled and it remains unclear what will happen with the shares that have already been traded. Nasdaq stopped trading in the shares on Friday morning and it has not been renewed since.

VBL, managed by Dror Harats develops and markets drugs for the treatment of cancer and autoimmune diseases. During the IPO, which has not been completed, $65 million was raised at a company value of $222 million after money. Since the IPO the share price rose 1.36%.


(c)2014 the Globes (Tel Aviv, Israel)

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Source: Globes (Tel Aviv)

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