Monday, October 8, 2007

ZARS Pulls IPO

Salt Lake City, Utah-based ZARs, a provider of drug delivery products for the pharmaceutical industry, said in a filing with the SEC Friday that it is withdrawing its IPO. The firm, which was looking to sell 5 million shares of its stock at between $14.00 and $16.00 per share, said that it was withdrawing the IPO due to market conditions. As part of its request for withdrawal of its IPO, ZARS also said that it may undertake a private offering. ZARS had filed for an IPO in June. The firm is backed by Draper Fisher Jurvetson, Wasatch Ventures, and vSpring Capital.