Skin out of the game: DermTech withdraws $25 million IPO

DermTech, which is developing non-invasive gene expression tests to diagnosis various skin conditions, withdrew its plans for an initial public offering on Thursday citing poor market conditions.

Skin-related biotech IPO Dermira (DERM) raised $125 million in October by pricing at the high end of the range, and now trades about 1.5% above the offer price.

The La Jolla, CA-based company was founded in 1995 and booked $0 million in sales for the 12 months ended June 30, 2014. DMTK. DermTech initially filed confidentially on 4/4/2014. Maxim Group LLC was set to be the sole bookrunner on the deal.