Small molecule biotech company Iambic Therapeutics (IAM.US) prices IPO at $15-17 per share, aiming to raise $150 million.

Iambic Therapeutics (IAM.US), a Phase 1 clinical-stage biotechnology company developing small molecule cancer therapies based on its proprietary artificial intelligence (AI) platform, announced the terms of its IPO on Thursday. The San Diego, California-based company plans to raise $150 million by offering 9.4 million shares at a price range of $15 to $17 per share. Certain investors have indicated an intention to purchase up to $60 million worth of shares in the offering (40% of the deal). At the midpoint of the proposed price range, Iambic Therapeutics would have a fully diluted market value of $809 million. It is understood that Iambic Therapeutics is a clinical-stage biotechnology company that combines proprietary AI models with automated high-throughput chemistry and biology to design small molecule drugs. The platform operates a closed-loop process: its models propose compound designs, and the Siasun Robot&Automation laboratory synthesizes and tests hundreds of compounds per program each week, with the resulting data used to retrain the models. Its lead candidate, IAM1363, is a selective, blood-brain barrier-penetrant HER2 inhibitor currently in a Phase 1/1b clinical trial for HER2-altered solid tumors, with a registrational trial potentially starting as early as 2027; two additional preclinical programs targeting KIF18A and CDK2/4 are planned for IND submissions in the fourth quarter. To date, Iambic Therapeutics has generated revenue through collaborations with AbbVie (ABBV.US), Takeda Pharmaceutical Co. Ltd. Sponsored ADR (TAK.US), Bayer (BAYRY.US), and others. Iambic Therapeutics was founded in 2019 and generated $18 million in revenue for the trailing twelve months ended June 30, 2026. The company plans to list on the Nasdaq under the ticker symbol IAM. JPMorgan, Jefferies, BofA Securities, and Citi are serving as joint bookrunners for the transaction. Pricing is expected in the week of October 12, 2026.