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Tapestry Pharmaceuticals (TPPH) Withdrawals Proposed $40 Million Stock Offering

June 12, 2007 5:31 PM EDT
Tapestry Pharmaceuticals, Inc. (Nasdaq: TPPH) has withdrawn its registration statement on Form S-1 that had been filed with the SEC in conjunction with a proposed offering of $40 million of common stock.

"Given the encouraging data we recently presented at the annual meetings of both the American Association for Cancer Research (AACR) and American Society of Clinical Oncology (ASCO) and the Company's overall financial position, we have decided to withdraw the proposed public offering and consider other financing options," commented Leonard Shaykin, Chairman and CEO.

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