WCG Clinical, which performs ethical reviews and other clinical trial services to biopharmas and CROs, withdrew its plans for an initial public offering on Wednesday. It had filed to raise $720 million by offering 45 million shares at a price range of $15 to $17 but postponed ahead of pricing in August.
The Princeton, NJ-based company was founded in 1968 and booked $498 million in revenue for the 12 months ended March 31, 2021. It had planned to list on the Nasdaq under the symbol WCGC. Goldman Sachs, Morgan Stanley, BofA Securities, Barclays, Jefferies, William Blair, and BMO Capital Markets were set to be the joint bookrunners on the deal.
