Merck & Co., Inc.'s former senior executive, who was once a highly respected figure, is now leading the charge for the cancer drug development startup Eikon Therapeutics (EIKN.US) as they prepare for their IPO on the US stock market.

Eikon Therapeutics, focused on cancer drug development, has officially submitted an initial public offering (IPO) application to the US stock market in order to provide funding support for its advanced drug pipeline. This move signifies the rapid expansion of the lineup of companies seeking to go public in early 2026. According to documents submitted to the US Securities and Exchange Commission on Friday, the company plans to list on the Nasdaq Global Market under the symbol "EIKN". The offering is being led by JPMorgan Chase, Morgan Stanley, Bank of America Corp, and Cantor Fitzgerald. This late-stage biotech company is led by former Merck & Co., Inc. executives Roger Perlmutter and Roy Baynes. The documents state that the two were instrumental in the development of pembrolizumab, currently the highest-selling oncology therapy globally. Perlmutter serves as CEO of Eikon, while Baynes is the Chief Medical Officer. Eikon is currently primarily focused on a pipeline of novel cancer drugs, including a treatment for advanced melanoma that has entered phase III clinical trials. Founded in 2019, the company has sufficient funding support. According to a previous company statement, Eikon completed a Series D financing led by Lux Capital, Foresite Capital, Soros Capital, and advised by T. Rowe Price, raising $350.7 million in 2025. As of September 30 last year, the company held a total of $375.9 million in cash, cash equivalents, and short-term investments. This IPO application follows in the footsteps of several other companies on Friday: Bob's Discount Furniture Inc., supported by Bain Capital, Forgent Power Solutions Inc., a power distribution equipment manufacturer supported by Neos Partners, and Veradermics, an oral hair growth drug manufacturer, making the growing list of companies planning to go public in early 2026.