Iambic Therapeutics (IAM) priced its IPO at $16.00 – the mid-point – and sold 9.38 million shares – the number in the prospectus – to raise $150 million on Wednesday night, Oct. 14. The Phase I cancer biotech’s stock is expected to trade tomorrow – on Thursday, Oct. 15, 2026 – on the NASDAQ.
J.P. Morgan, Jefferies, BofA Securities and Citigroup were the joint book-runners of Iambic’s IPO.
ARK Set to Make Room for More
Cathie Wood’s ARK Investment Management, an existing shareholder, and the Duquesne Family Office had expressed interest buying up to $60 million combined in the IPO, the prospectus said.
Iambic is a Phase 1 cancer biotech targeting breast cancer and lung cancer. The San Diego-based biotech uses its AI platform to design small molecule cancer drugs.
Working with Abbvie & NVIDIA
Iambic Therapeutics, founded in 2019, has collaboration agreements with AbbVie, Takeda and H. Lundbeck, according to the prospectus.
“We also have partnerships with leading pharmaceutical and technology companies, NVIDIA Corporation (NVIDIA), Lambda, Inc. (Lambda), Revolution Medicines, Inc. (RevMed), Jazz Pharmaceuticals Ireland Limited (Jazz Pharmaceuticals), and Bayer Healthcare LLC (Bayer),” Iambic Therapeutics said in the prospectus.
Iambic Therapeutics is evaluating its leading drug candidate, IAM 1363, in a Phase 1/1B trial as a therapy for patients with HER2-altered solid tumors, according to the prospectus. A registrational trial may begin as soon as 2027.
“We believe IAM 1363 has the potential to be developed across multiple HER2-driven solid tumor indications, including HER2-positive breast cancer, HER2-positive gastroesophageal adenocarcinoma (GEA), HER2-amplified non-small cell lung cancer (NSCLC) and HER2-mutant NSCLC.”
Financial Snapshot: Net loss of $94.25 million on collaboration revenue of $18.25 million for the 12 months that ended on June 30, 2026
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