Braeburn Pharmaceuticals, which is commercializing a long-acting implant for treatment of opioid addiction, withdrew its plans for an initial public offering on Wednesday, citing terms available from the market. It had filed to raise $150 million by offering 7.7 million shares at a price range of $18 to $21.
The Princeton, NJ-based company was founded in 2012. It had planned to list on the Nasdaq under the symbol BBRX. J.P. Morgan, BofA Merrill Lynch and Deutsche Bank were set to be the joint bookrunners on the deal.
