Ambrx pulls IPO

Ambrx Inc. (La Jolla, Calif.) withdrew its IPO filing to list on NASDAQ citing "current public market conditions." Earlier this month, the company amended the offering to sell 5.4 million shares at $12-$14. At the $13 midpoint, the company would have raised $70.2 million and been valued at $223.2 million. Stifel; Wells Fargo Securities; Canaccord; Needham; and Roth Capital Partners were underwriters. Ambrx is developing a pipeline of antibody-drug conjugates by engineering non-native amino acids into mAbs via site-specific conjugation. The company is also developing bispecific and multi-specific drug conjugates and long-acting proteins. ...