City’s IPO soars to $200M, with proceeds supporting thromboembolic disease pipeline

City Therapeutics raised $200 million in an upsized Nasdaq IPO, offering over 11 million shares at $18 apiece under the ticker CTY, with trading set to begin Friday. Proceeds are earmarked for $30 million toward Phase 1 lead program CITY-FXI in thromboembolic diseases, $20 million for CITY-RBP4 studies in Stargardt disease, $40 million for CITY-TFR2 trials in myelofibrosis-associated anemia, and $70 million for platform and preclinical work. The IPO follows a $99.5 million series B raise just over four months earlier.