City Therapeutics raises $200 million in Nasdaq IPO
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City Therapeutics, a next-generation RNA interference drugmaker co-founded by former Alnylam CEO John Maraganore, raised $200 million in its IPO, selling just over 11.1 million shares at $18 each. Its shares begin trading on Nasdaq Friday under the ticker CTY. The company's lead candidate, CITY-FXI, targets Factor XI for thromboembolic diseases, with 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 a program for anemia of chronic disease is slated to begin an early-stage study in 2027. The clinical readouts and pipeline progression that justify the valuation are still ahead.
Written by a model from the reports · updated 28 min ago
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- biospace.comCity’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.
- biopharmadive.comPickNext-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.
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