Next-gen RNAi drugmaker City prices $200M IPO

City Therapeutics raised $200 million in its IPO, selling just over 11.1 million shares at $18 each, and begins Nasdaq trading Friday under ticker CTY. Co-founded by former Alnylam CEO John Maraganore, the company develops RNA interference therapies, with lead candidate CITY-FXI targeting Factor XI for thromboembolic diseases and a first Phase 2 trial in knee-replacement patients expected next year. Its CITY-RBP4 program for Stargardt disease enters Phase 1 later this year, and an anemia of chronic disease program starts an early-stage study in 2027.