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Iambic Therapeutics (IAM), a San Diego-based Phase 1 cancer biotechnology company, has priced its initial public offering at $16.00 per share, hitting the exact mid-point of its expected range. The company sold 9.38 million shares to raise $150 million on Wednesday night. Its stock is slated to begin trading on the NASDAQ under the ticker symbol IAM.
The offering was backed by major joint book-runners including J.P. Morgan, Jefferies, BofA Securities, and Citigroup. Existing shareholder Cathie Wood’s ARK Investment Management and the Duquesne Family Office had previously expressed interest in purchasing up to a combined $60 million in the IPO. Iambic leverages an artificial intelligence platform to design small molecule cancer treatments, alongside high-profile partnerships with industry giants such as AbbVie, NVIDIA, and Takeda.
Currently, Iambic is evaluating its primary drug candidate, IAM 1363, in a Phase 1/1B trial targeting HER2-altered solid tumors, with a potential registrational trial slated for 2027. For the 12-month period ending June 30, 2026, the biotech reported collaboration revenue of $18.25 million against a net loss of $94.25 million.
