Business · Companies · 1 hr ago
Lycia Therapeutics raises $317.5 million in Nasdaq IPO
Lycia Therapeutics raised $317.5 million in a Nasdaq listing by selling 17.64 million new shares at $18 each.
The biotechnology company is backed by investment firm HBM, which announced the listing.
Lycia develops treatments designed to destroy proteins that cause disease.
It is initially focused on autoimmune, inflammatory and allergic diseases.
The shares closed at $30 on the first trading day, a 67% rise from the offer price.
HBM now holds about 2.2% of Lycia, valued at $36.8 million.
The listing gives Lycia access to public investors, while its research focuses on developing new therapies for these conditions.
Lycia Therapeutics raised $317.5 million in its Nasdaq initial public offering by issuing 17.64 million new shares at $18 each.
On its first trading day, the shares closed at $30, a 67% increase from the offering price.
After the IPO, investment company HBM held about 2.2% of Lycia, valued at $36.8 million.
Lycia develops therapies designed to selectively destroy disease-causing proteins.
The company is initially focused on autoimmune, inflammatory and allergic diseases.
- Who
- Lycia Therapeutics raised the funds. HBM is an investor in the company.
- What
- Lycia raised $317.5 million in a Nasdaq IPO by issuing 17.64 million new shares at $18 each.
- When
- The IPO was reported on October 26, 2026. The date of the first trading day is not stated.
- Where
- Nasdaq.
- Why
- Not stated.
This story does not have two clearly opposing sides.
Lycia issued 17.64 million new shares at $18 each and raised $317.5 million.
Lycia shares closed at $30, up 67% from the offering price.
HBM held about 2.2% of Lycia, valued at $36.8 million.
- IPO proceeds
- $317.5 million
- New shares issued
- 17.64 million
- Offering price
- $18 per share
- First-day closing price
- $30 per share
- HBM stake after IPO
- About 2.2%, valued at $36.8 million