San Diego-based Celladon Corp. has chosen to postpone its $75 million initial public offering, citing poor market conditions, according to equity research firm Renaissance Capital.
Celladon announced earlier this month that it planned to price its IPO at $14 to $16 per share, releasing 5 million shares. Celladon’s public debut was scheduled for Nov. 14 – the same day that San Diego medical device maker Tandem Diabetes Care Inc. hit the markets with its own IPO. Celladon plans to trade on the Nasdaq under ticker symbol CLDN.
The clinical-stage company is developing a gene therapy platform for heart failure patients.
The company initially filed its prospectus confidentially with the SEC on Sept. 6.
— SDBJ Staff Report