TRex Bio prices $117 million IPO to fund immune‑regulatory drug program
+1 new source since this summary was written
TRex Bio sold 8,333,334 shares at $14 each, raising $117 million in its initial public offering and will begin trading on Nasdaq under the symbol TRXB. The capital will support its Phase 1 trial of the Treg‑activating fusion protein TRB‑061 and future testing of TRB‑071 for inflammatory bowel disease. Eli Lilly, which owned about 24% of the company before the IPO, indicated interest in buying additional shares.
Why it matters
The $117 million proceeds give TRex Bio funding to advance its immunoregulatory pipeline, potentially increasing its valuation as clinical data emerge. The IPO also adds a new biotech stock for investors, with the opening price anchored at $14 per share.
Key facts
- 1TRex Bio raised $117 million in its IPO. finance.yahoo.com
- 2The company sold 8,333,334 shares at $14 each. finance.yahoo.com
- 3TRex Bio will trade on Nasdaq under the ticker symbol "TRXB". finance.yahoo.com
- 4TRB‑061 is in a Phase 1 study with topline data expected in 2027. finance.yahoo.com
- 5Eli Lilly held about 24% of TRex Bio’s shares prior to the IPO. finance.yahoo.com
- 6TRex Bio closed its first trading day at $14 per share. seekingalpha.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.