Latigo Biotherapeutics prices IPO at $18 per share on Nasdaq

Latigo Biotherapeutics, Inc. priced an initial public offering of 19,200,000 shares of common stock at $18.00 per share.¹ The stock is approved for listing on The Nasdaq Global Select Market under the symbol "LTGO."¹ Settlement of the offering is set for August 10, 2026, in New York.¹

The company estimated net proceeds of approximately $315.7 million, or approximately $363.9 million if underwriters exercise their option to purchase additional shares in full, after deducting underwriting discounts and commissions and estimated offering expenses.¹ Underwriters were granted an option to purchase up to 2,880,000 additional shares within 30 days of the prospectus date.¹

Latigo is developing non-opioid pain treatments built around Nav1.8 inhibitors. Its lead candidate, LTG-001, is being developed for moderate to severe acute pain, and the company reported that in a 343-patient abdominoplasty trial, high dose LTG-001 met its primary endpoint of Summed Pain Intensity Difference from 0 to 48 hours, achieving a 62.1-point improvement versus placebo (p<0.001), numerically exceeding the 40.9-point improvement seen with the opioid comparator Vicodin (p=0.001).¹ The company also reported that 52.3% of patients receiving high dose LTG-001 remained opioid-free during the 48-hour treatment period versus 22.1% in the placebo group.¹

Latigo plans to use proceeds, together with existing cash, to advance LTG-001 through Phase 3 bunionectomy and open-label safety trials to NDA submission, advance LTG-321 through Phase 2 osteoarthritis proof-of-concept and into Phase 3, and fund other research including LTG-418 development.¹ The company reported preliminary unaudited cash and cash equivalents of approximately $54.8 million as of June 30, 2026,¹ and disclosed net losses of approximately $61.2 million and $109.2 million for 2024 and 2025, respectively, with an accumulated deficit of approximately $266.1 million as of March 31, 2026.¹