The company plans to sell 14.7 million shares, with potential net proceeds reaching $227.8 million at the $17 midpoint. If underwriters capitalize on an option to purchase an additional 2.21 million shares, total proceeds could climb to approximately $262.7 million. Lycia focuses on creating therapeutics designed to degrade disease-causing extracellular proteins, a specialized approach that requires sustained research investment.
In section Market Quotes
Lycia Therapeutics Targets $262 Million in Upcoming Nasdaq IPO
South San Francisco-based Lycia Therapeutics is positioning itself for a public market debut, setting a price range of $16 to $18 per share for its initial public offering. The clinical-stage biotechnology firm aims to raise significant capital to fund its drug development pipeline through the latter half of 2029.
Following the offering, Lycia expects to have nearly 54.3 million shares outstanding, assuming the full exercise of the overallotment option. This valuation would place the company's market capitalization above $920 million. Management has applied to list the stock on the Nasdaq Global Select Market under the ticker symbol LYCA.
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