Disappointment for Motif Bio (MTFB) shareholders as the antibiotics specialist announced that it would have to delay its proposed Nasdaq listing, citing difficult market conditions. In July, the company said it would be looking Stateside for cash to fund its final phase clinical trial - a proposal that was greeted with a share price rise of roughly a third.
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The news saw the shares fall back by a fifth, even though Motif said that it would "continue to engage with investors", hinting that the delay was truly a delay rather than a complete U-turn on the decision to list in the US.
