PhaseRx, a preclinical biotech developing treatments to correct life-threatening inherited liver diseases, tops this year’s list of IPO flops, with negative returns of 75.4 percent. The Seattle, Washington-based company raised $19 million in May by offering 3.7 million shares at the low end of the pricing range of $5 to $7 per share. Its shares are listed on the Nasdaq under the symbol “PZRX”.