City Therapeutics Prices Upsized $200 Million IPO at $18 Per Share
City Therapeutics, Inc. (CTY) priced its upsized initial public offering of 11,111,111 shares of common stock at $18.00 per share. The biotechnology company expects to raise approximately $200 million in gross proceeds before underwriting discounts and offering expenses. In addition, underwriters have been granted a 30-day option to purchase up to an additional 1,666,666 shares.
The capital raised will support the clinical-stage company as it advances its platform of RNA interference therapeutics. City Therapeutics is developing targeted treatments for various medical conditions, including lead programs CITY-FXI for thromboembolic diseases, CITY-RBP4 for Stargardt disease and retinal conditions, and CITY-TFR2 for anemia linked to chronic diseases.
Trading of the common stock is expected to begin on the Nasdaq Global Market on October 16, 2026, under the ticker symbol CTY. The initial public offering is scheduled to close on October 19, 2026, pending standard closing conditions.
Key points
- City Therapeutics priced 11,111,111 common shares at $18.00 per share in an upsized initial public offering.
- The biotechnology company expects to generate approximately $200.0 million in gross proceeds.
- Underwriters received a 30-day option to buy up to 1,666,666 additional shares.
- Stock trading is scheduled to begin October 16, 2026, on the Nasdaq Global Market under the ticker CTY.
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What is the ticker symbol for City Therapeutics?
City Therapeutics will trade on the Nasdaq Global Market under the ticker symbol CTY starting October 16, 2026.
How much money is City Therapeutics raising in its IPO?
The company expects gross proceeds of approximately $200 million by offering 11,111,111 shares at $18.00 per share.
What does City Therapeutics do?
City Therapeutics is a clinical-stage biotechnology company engineering RNA interference therapeutics to treat conditions like thromboembolic diseases, Stargardt disease, and chronic disease anemia.