Reflux device maker EndoStim withdraws $35 million IPO

EndoStim, which sells a neurostimulation device used to treat gastroesophageal reflux disease, withdrew its plans for an initial public offering on Wednesday citing poor market conditions.

The St. Louis, MO-based company was founded in 2009 and booked $1 million in sales for the 12 months ended June 30, 2014. It had planned to list on the Nasdaq under the symbol STIM. Wedbush PacGrow was set to be the sole bookrunner on the deal.