ImaRx IPO Keeps Shrinking

ImaRx Therapeutics Inc., a Tucson, Ariz.-based drug company using nanotech therapies for stroke and cancer, has lowered its proposed IPO terms. The company originally filed to sell 3 million shares at between $6.50 and $7.50 per share, but has now dropped the price-tag down to $5 per share. It still plans to trade on the Nasdaq under ticker symbol IMRX, with Maxim Group serving as lead underwriter. Edison Moore Healthcare Ventures holds a 4.8% pre-IPO ownership position. ImaRx had filed for a $75 million IPO last year, but later withdrew it due to “unfavorable market conditions.” www.imarx.com