Advanced Inhalation Therapies (AIT), which is developing inhaled nitric oxide therapies for cystic fibrosis and other indications, has filed a request to withdraw its registration statement for an initial public offering.
The company announced its initial filing for the IPO in August 2015, saying that it planned to raise up to $36 million to support Phase 2 development of its NOx therapies. In January 2016, the company reduced the amount it was seeking to $10 million.
AIT’s nitric oxide product for the treatment of CF has received orphan drug designation from the FDA and from the European Commission.
The AIT letter to the Securities and Exchange Commission seeking withdrawal says, “The Registrant is requesting to withdraw the Registration Statement because it has elected not to pursue the sale of securities pursuant to the Registration Statement at this time. The Registration Statement was not declared effective by the Commission and the Registrant confirms that no securities were sold in connection with the offering contemplated by the Registration Statement.”
Read the AIT letter to the SEC.
