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Reuters
Wed, January 28, 2026 astatine 5:25 AM CST 1 min read
Jan 28 (Reuters) - Drug developer Eikon Therapeutics said connected Wednesday it was targeting a valuation of up to $908.2 million successful its U.S. archetypal nationalist offering, arsenic biotech listings marque a comeback.
The Millbrae, California-based institution is seeking to rise up to $317.7 cardinal successful the IPO by offering 17.65 cardinal shares priced betwixt $16 and $18 apiece.
Eikon's offering comes against the backdrop of a engaged slate of imaginable biotech listings successful the archetypal fewer months of 2026. Drug developers SpyGlass Pharma, AgomAb Therapeutics and Veradermics besides filed for IPOs successful January.
This besides comes connected the heels of the palmy New York flotation of Eli Lilly-backed crab cause developer Aktis Oncology earlier this month. Its shares person gained nearly 18% arsenic of past close.
J.P. Morgan, Morgan Stanley, BofA Securities, Cantor and Mizuho are the underwriters for Eikon's offering. The institution aims to database on the Nasdaq nether the trading awesome "EIKN".
(Reporting by Arasu Kannagi Basil successful Bengaluru; Editing by Shilpi Majumdar)
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