Merrion delays US initial public offering

MERRION Pharmaceuticals said on Friday it had called off plans for an initial public offering on the Nasdaq due to tough current market conditions.

The Dublin-based company, which develops oral drugs, did not give any further details on when it aimed to list in the United States.

“Plans to list on the Nasdaq have been deferred for the present,” it said in a statement.

Merrion said in March it planned an IPO of as much as $46 million (€31m) in American depositary shares or common shares.

Earlier this month Merrion joined Ireland’s junior IEX exchange.