Biostage, which is developing an esophageal implant using stem cell technology, withdrew its plans for an initial public offering on Wednesday. It originally filed in June 2022 with a proposed deal size of $12 million. The company is currently listed on the OTC (BSTG).
Because the company planned to offer warrants, it will be excluded from Renaissance Capital's 2023 IPO stats.
The Holliston, MA-based company was founded in 2012 and had planned to list on the Nasdaq under the symbol BSTG. Newbridge Securities was set to be the sole bookrunner on the deal.
