Predix Pharmaceuticals Withdraws Initial Public Offering.LEXINGTON, Mass. -- Predix Pharmaceuticals announced today that, due to market conditions, it is withdrawing the company's S-1 registration statement from the Securities and Exchange Commission (SEC). E[acute accent]"While we have decided to withdraw our plans for an IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. at this time, we are continuing to advance the clinical development programs for our three lead product candidates," stated Michael G. Kauffman, M.D., Ph.D., president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Predix Pharmaceuticals. "We are well underway with enrollment for our first pivotal Phase III clinical trial Noun 1. phase III clinical trial - a large clinical trial of a treatment or drug that in phase I and phase II has been shown to be efficacious with tolerable side effects; after successful conclusion of these clinical trials it will receive formal approval from the of PRX-00023 in general anxiety disorder anxiety disorder
Any of various psychiatric disorders in which anxiety is either the primary disturbance or is the result of confronting a feared situation or object. , and we expect to initiate a Phase Ib proof of concept study for PRX-08066 in pulmonary arterial hypertension later this year and a Phase II study of PRX-03140 in Alzheimer's disease Alzheimer's disease (ăls`hī'mərz, ôls–), degenerative disease of nerve cells in the cerebral cortex that leads to atrophy of the brain and senile dementia. in the first half of next year."
E[acute accent]About Predix
E[acute accent]Predix Pharmaceuticals Holdings, Inc. is a pharmaceutical company focused on the discovery and development of novel, highly selective, small-molecule drugs that target G-Protein Coupled Receptors (GPCRs) and ion channels. Using its proprietary drug discovery technology and approach, Predix has advanced three drug candidates into clinical trials and has six additional programs in preclinical development and discovery. Predix initiated the first of at least two pivotal Phase III clinical trials for generalized anxiety disorder Generalized Anxiety Disorder Definition
Generalized anxiety disorder is a condition characterized by "free floating" anxiety or apprehension not linked to a specific cause or situation. for its lead drug candidate, PRX-00023, in early August 2005. Its two other clinical-stage drug candidates, PRX-03140 for the treatment of Alzheimer's disease and PRX-08066 for the treatment of pulmonary arterial hypertension, are in Phase I clinical trials.