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[SITUATION] · [ACTIVE] · [BUSINESS]

2 clusters · 3 sources · 19 days · First seen · Last updated

US biotechnology sector IPO activity

Overview

Biotechnology companies have begun pursuing initial public offerings (IPOs) to fund clinical development despite market uncertainty.

City Therapeutics, a Massachusetts-based firm specializing in RNA-based rare disease drugs, has targeted a valuation of up to $956.3 million to fund clinical trials for its lead candidate, CITY-FXI, and to advance its RNA interference platform.

Lycia Therapeutics, which utilizes a Lysosomal Targeting Chimera (LYTAC) platform to develop treatments for allergies and autoimmune diseases, successfully completed its NASDAQ debut. The company raised $317.5 million through the issuance of 17.64 million new shares priced at $18.00 each. On its first day of trading, the stock closed at $30.00, a 67 percent increase from the IPO price.

Entities

Nasdaq · Lycia Therapeutics · City Therapeutics · HBM · Securities and Exchange Commission

Timeline

  1. [BUSINESS] 3 sources
    Lycia Therapeutics sees successful NASDAQ debut

    Lycia Therapeutics shares surged 67 percent to close at $30.00 on their first day of trading on the NASDAQ following a $317.5 million IPO.

  2. [BUSINESS] 2 sources
    Biotech firms City Therapeutics and Lycia Therapeutics pursue US IPOs

    Biotech firms City Therapeutics and Lycia Therapeutics are pursuing US IPOs to fund clinical development of RNA-based rare disease treatments and food allergy therapies.

Sources

finanzen.ch · finanzen.net · schweizeraktien.net