Lycia Therapeutics plans US IPO amid biotech IPO comeback
Business
Lycia Therapeutics, a biotech company from South San Francisco, is about to go public in the US and hopes to reach a $937.7 million valuation.
They're planning to raise up to $264.6 million by selling 14.7 million shares priced between $16 and $18 each.
This move highlights how biotech IPOs are making a comeback, with more investors starting to show interest again.
Lycia debuting on Nasdaq as LYCA
Lycia will debut on Nasdaq under the ticker LYCA, with big names like Jefferies and TD Cowen managing the launch.
The timing is interesting: other biotech firms like City Therapeutics and NVIDIA-backed Iambic Therapeutics have also gone public recently, showing that even with economic ups and downs, biotech is still catching investors' eyes this fall.