Eikon Therapeutics has raised US$381.2m in an IPO, selling 21.2m shares at US$18 each.
The shares were priced at the top of the company’s targeted US$16 to US$18 range.
The offering comes as IPO activity shows signs of picking up in 2026, following a government shutdown in October of the previous year that forced many companies to delay listing plans.
Biotech offerings have also started to return this year, with drug developers including SpyGlass Pharma and AgomAb Therapeutics filing for US listings in January.
Eikon was founded in 2019 by chemistry Nobel Prize winner Eric Betzig, along with Xavier Darzacq, Luke Lavis and Robert Tjian, and is developing a pipeline of experimental treatments for cancer.
Its most advanced drug candidate, EIK1001, is being tested in combination with Merck’s Keytruda in a mid-to-late stage trial for a form of skin cancer.
The company expects an interim analysis, a planned early look at the data, in the second half of 2026.
The company’s shares will start trading on the Nasdaq under the ticker symbol “EIKN” on Thursday.
J.P. Morgan, Morgan Stanley, BofA Securities, Cantor and Mizuho are underwriting the offering.
