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XDx IPO withdrawn due to volatile market

This article was originally published in Clinica

Executive Summary

Molecular diagnostics firm XDx has pulled its $86m IPO from the Nasdaq Stock Exchange citing “current public market conditions” as the cause. The Brisbane, California-based company had originally intended to use funds from the IPO, which it filed in October 2007 (see Clinica No 1280, p 13), to fund commercialisation of its AlloMap HTx test for monitoring gene expression in processed blood samples of patient who have received heart transplants. XDx becomes the fifth medtech company to withdraw an IPO from the Nasdaq this year due to unfavourable conditions – most recently Salient Surgical Technologies pulled its offering (see Clinica No 1321, p 13).

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