TRex Bio IPO raises $116.7 million, prices at bottom of range

TRex Bio filed for a Nasdaq IPO, offering 8,333,334 shares at $14.00 each, aiming to raise $116.7 million. The company, focused on immunoregulatory medicines, plans to use proceeds for clinical trials and general corporate purposes. Eli Lilly has shown interest in purchasing shares. TRex Bio's lead candidate, TRB-061, is in Phase 1b trials for atopic dermatitis, with data expected in mid-2027.

TRex Bio Inc. raised $116.7 million in its IPO, priced at $14 per share. J.P. Morgan and Evercore led the offering, indicating institutional confidence. The company focuses on immunology, an area of sustained investor interest. All shares were pre-allocated to institutional buyers, with the first public trading opportunity upcoming.

TRex Bio priced its IPO at $117M, selling 8.3M shares at $14 each, and will trade on Nasdaq under 'TRXB'. The company is developing immune drugs, with TRB-061 in Phase 1 trials and TRB-071 planned for testing. Eli Lilly, its largest shareholder, may also buy IPO shares. TRex has raised $220M in venture financing. Another biotech, Retension Pharmaceuticals, also went public with a $45M offering, highlighting increased biotech IPO activity in 2026.

TRex Bio, Inc. (TRXB) priced its IPO at $14 per share, offering 8.33 million shares to raise about $116.7 million. The clinical-stage biotech focuses on immunoregulatory therapies for autoimmune and inflammatory diseases.

TRex Bio priced 8.3M shares at $14 each, raising $116.7M in its IPO. Trading begins Oct. 9 on Nasdaq under ticker TRXB. Underwriters have a 30-day option for 1.25M more shares. The company plans to use proceeds for its clinical-stage immunology pipeline.

TRex Bio, backed by Eli Lilly, aims to raise up to $133M in its U.S. IPO, selling 8.3M shares at $14-$16 each. The biotech focuses on anti-inflammatory drugs and has partnerships with Lilly, Johnson & Johnson, and others. Lilly plans to maintain its 19.9% stake.