City Therapeutics upsizes IPO, sells 11.1 M shares at $18 each, raising $200 M
City Therapeutics announced that it priced an upsized initial public offering of 11,111,111 shares at $18 per share, generating roughly $200 million in gross proceeds. The offering was led by Goldman Sachs, Jefferies, Stifel and Oppenheimer and will begin trading on Nasdaq on October 16, 2026 under the symbol CTY. The biotech will use the capital to advance its RNA‑interference pipeline, including candidates for clotting disorders, retinal disease and anemia.
Why it matters
The $200 million raise provides funding for City’s clinical programs and platform development, which could affect the valuation and liquidity of the newly listed CTY shares. Investors will watch how the proceeds are allocated across the three lead candidates and the company’s working‑capital needs.
Key facts
- 1The IPO priced 11,111,111 shares at $18.00 each, for gross proceeds of about $200 million. stocktitan.net
- 2Trading is scheduled to start on Nasdaq on October 16, 2026 under the ticker CTY. stocktitan.net
- 3Goldman Sachs, Jefferies, Stifel and Oppenheimer act as joint book‑running managers. stocktitan.net
- 4The offering includes an over‑allotment option for an additional 1,666,666 shares. tradingview.com
- 5City Therapeutics is a clinical‑stage biotech developing RNAi medicines, with lead programs CITY‑FXI, CITY‑RBP4 and CITY‑TFR2. tradingview.com
- 6Proceeds are earmarked for roughly $30 M for CITY‑FXI, $20 M for CITY‑RBP4, $40 M for CITY‑TFR2 and $70 M for platform work, with the remainder for working capital. tradingview.com
Summary written by AlphAI AI Desk from 12 of 12 sources. Not investment advice. Figures are as stated by the linked sources.