Biopharmaceutical company Eikon Therapeutics (EIKN.US) priced its IPO at $18, raising $381.2 million. It will debut on Nasdaq tonight.

Biopharmaceutical company Eikon Therapeutics (EIKN.US) announced on Wednesday that its initial public offering (IPO) in the United States raised $381.2 million, with approximately 21.2 million shares of common stock being issued at a price of $18 per share. The offering price is at the upper end of the company's target range of $16 to $18 per share. It is reported that as the company prepared for this listing, the U.S. IPO market has shown signs of recovery in 2026. The government shutdown in October last year had caused several companies to postpone their IPO plans. This year, however, there has been a resurgence in IPOs for biotechnology companies, with companies such as SpyGlass Pharma (SGP.US) and AgomAb Therapeutics (AGMB.US) submitting IPO applications in January. Eikon Therapeutics was founded in 2019 by Nobel Prize winners Eric Betzig, Xavier Darzacq, Luke Lavis, and Robert Tjian. The company is currently developing a pipeline of experimental therapies for cancer. The company's fastest-developing candidate drug, EIK1001, is currently undergoing a late-stage clinical trial for skin cancer in collaboration with Merck & Co., Inc. (MRK.US) Keytruda. The mid-term data analysis for this study is expected to be released in the second half of 2026. Eikon Therapeutics' stock will begin trading on Nasdaq on Thursday under the symbol "EIKN". The underwriters for this IPO include JPMorgan, Morgan Stanley, Bank of America Corp Securities, Cantor, and Mizuho Securities.