Lycia Therapeutics Completes IPO on Nasdaq, Raising $318 Million
Steady: 1 development in the last 24 hours, 1 in the last 7 days
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How it started
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What happened
Lycia Therapeutics began trading on the Nasdaq stock exchange following an initial public offering on October 22, 2026. The company banked nearly $318 million during the offering, surpassing its projections by selling about 3 million more shares than anticipated. Lycia's drugs, called LYTACs, are designed to destroy harmful proteins outside of a cell.
From biopharmadive.com
Why it matters
The offering contributes to a trend of large funding rounds in the biotech sector, as about two-thirds of the sector’s IPOs in 2026 have exceeded $250 million in proceeds. Lycia Therapeutics is developing three drugs, including LCA-0061 and LCA-0062, which are currently in Phase 1 testing.
From biopharmadive.com
Who's involved
- NasdaqThe American stock exchange where Lycia Therapeutics listed its shares.
How it developed
Newest first. Tap a step to see who reported it.- Venrock Healthcare Capital Par purchased Lycia Therapeutics stock, making it a major shareholder and affecting the stock price.Sub-event
Lycia Therapeutics, founded in part by Carolyn Bertozzi, listed on Nasdaq.1 source