Apellis Pharmaceuticals, which is developing a novel protein inhibitor for autoimmune and inflammatory diseases, withdrew its plans for an initial public offering on Monday. It originally filed in October 2015 with a proposed deal size of $86 million.
As of September 30, 2015, the company had $10 million cash and an accumulated deficit of $63 million.
The Crestwood, KY-based company was founded in 2009 and had planned to list on the Nasdaq under the symbol APLS. Citi, Barclays and Leerink Partners were set to be the joint bookrunners on the deal.
