Rezera Sets Terms for $200 Million IPO

Boston-based clinical-stage biopharmaceutical company Rezera Inc. has set the terms for its upcoming initial public offering, aiming to raise $200 million on the NASDAQ under the proposed ticker symbol RZRA. According to an S-1/A filing released on Thursday, November 5, 2026, the company is offering 16.67 million shares at an estimated price range of $11.00 to $13.00. At the $12.00 mid-point, Rezera would command a market capitalization of approximately $249.32 million. Joint book-runners for the offering include Jefferies, TD Cowen, and Cantor, with pricing expected as early as next week.

Rezera intends to use the capital to advance its proprietary portfolio of oral NLRP3 inhibitors, which target sterile inflammation. The company’s lead drug candidate, ruvonoflast, is being developed to treat peripheral artery disease (PAD), a form of atherosclerotic cardiovascular disease. Management plans to initiate a Phase 3 clinical trial in the first half of 2027, with anticipated results in 2028 and a target New Drug Application (NDA) submission to the FDA in 2029. Additionally, the biotech plans to advance an earlier-stage inhibitor, trabzanoflast, into Phase 2 trials for neuroinflammation.

As a pre-revenue clinical biotech, Rezera is not currently profitable. Financial statements in the prospectus report a net loss of $66.3 million with no product revenue for the 12-month period ending June 30, 2026. Beyond its lead PAD indication, the company ultimately aims to explore ruvonoflast’s efficacy across broader cardiovascular conditions, including heart failure.