Lycia Therapeutics prices IPO at $18 per share, raises $317.5 million

Lycia Therapeutics priced its initial public offering at $18.00 per share, offering 17,640,000 shares of common stock. The company offered 17,640,000 shares of common stock at an initial public offering price of $18.00 per share.¹ Common stock has been approved for listing on the Nasdaq Global Select Market under the symbol "LYCA."¹

Total proceeds before expenses are set at $317,520,000, with underwriting discounts and commissions of $22,226,400, leaving Lycia with $295,293,600 before expenses.¹ Delivery of the shares is expected on or about October 26, 2026.¹ Underwriters hold a 30-day option to purchase up to an additional 2,646,000 shares, which would bring total underwriting discounts and commissions to $25.6 million and total proceeds before expenses to $339.6 million.¹

Lycia described itself as a clinical-stage biotechnology company focused on the discovery and development of novel therapeutics designed to degrade disease-causing extracellular proteins, leveraging its proprietary LYTAC platform¹. Its lead program, LCA-0061, targets IgE; preliminary data from the first cohort of healthy atopic participants treated with a single 70 mg subcutaneous dose showed rapid, deep and sustained reduction in total and free IgE¹, with a mean maximum IgE reduction of 96% from baseline, with a majority of participants remaining greater than 95% reduced from baseline 28 days post-dose¹.

Lycia estimated it had approximately $138.2 million in cash, cash equivalents and marketable securities as of September 30, 2026¹, though the company cautioned this figure is preliminary, unaudited and may change¹. Net proceeds from the offering are estimated at approximately $290.7 million, or $335.0 million if the underwriters' option is exercised in full.¹