Lycia Therapeutics completes upsized Nasdaq IPO, raising up to $365 million
Lycia Therapeutics priced its Nasdaq IPO at $18 per share and began trading on October 23, 2026. The offering sold between 17.64 million and 20.29 million shares, generating gross proceeds reported as $317.5 million and $365.1 million before expenses. HBM Healthcare Investments contributed $13.5 million, ending with a 2.2% stake valued at $36.8 million after the debut. In after‑hours trading the stock fell about 10% to $26.
Why it matters
The capital raise provides Lycia with up to $365 million to fund R&D and working capital, extending its cash runway into the second half of 2029. The post‑IPO price decline may affect short‑term liquidity and investor sentiment.
Key facts
- 1The IPO price was $18 per share. marketscreener.com
- 2HBM Healthcare Investments invested a total of $13.5 million and now holds approximately 2.2% of Lycia, valued at $36.8 million at the $30 closing price. marketscreener.com
- 3Lycia began trading on Nasdaq Global Select Market on October 23, 2026 under the ticker LYCA. marketscreener.com
- 4After‑hours trading on October 26, 2026 the shares fell 9.88% to $26. rttnews.com
Open questions
- Gross proceeds reported as $317.5 million versus $365.1 million before expenses.
- Number of shares sold reported as 17.64 million versus 20.286 million and 20.27 million.
Summary written by AlphAI AI Desk from 7 of 7 sources. Not investment advice. Figures are as stated by the linked sources.