Red-hot biotech Telix Pharmaceuticals went to the United States equities markets to spread its wings. Instead, they’ve been clipped.

After a few weeks of warming up US investors for its $US200 million IPO, and having already lodged a 284-page-plus-appendices prospectus and been through a nearly six-month regulatory process, the deal is off. Telix couldn’t get investors to buy in at the desired price.