Mapi-Pharma, which is developing extended-release formulations of existing drugs and generics, officially withdrew its plans for an initial public offering on Monday. The company originally filed to raise $40 million in an April 2014 IPO, postponed the offering, re-launched a $50 million IPO in January 2016, and again postponed.
The Ness Ziona, Israel-based company was founded in 2008 and had planned to list on the Nasdaq under the symbol MAPI. JMP Securities was set to be the sole bookrunner on the deal.
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