Obesity biotech Gelesis does not float shares; $52 million IPO postponed

Gelesis, which is developing a weight loss capsule for patients with obesity and type 2 diabetes, postponed its IPO on Wednesday.

The Boston, MA-based company was founded in 2006 and had planned to list on the NASDAQ under the symbol GLSS. Piper Jaffray, Stifel and Guggenheim Securities were set to be the joint bookrunners on the deal.