Mid-point pricing is the trend. AgomAb Therapeutics NV (AGMB), a Belgian biotech backed by Pfizer, priced its IPO at $16.00 – the mid-point of its range – last night. That put AgomAb Therapeutics right in step with SpyGlass Pharma (SGP) and Jennifer Garner’s Once Upon a Farm (OFRM) – both IPOs also priced at the mid-point of their respective ranges last night – after a brutal sell-off in the broad U.S. stock market.
AgomAb Therapeutics NV (AGMB) priced 12.5 million American Depositary Shares (ADS) at $16.00 each to raise $200 million on Thursday night, Feb. 5, 2026. AgomAb’s ADS slid in their NASDAQ debut at 12:34 p.m. EST today – Friday, Feb. 6, 2026 – opening at $14.70, down $1.30 from their $16 IPO price on volume of 692,426 shares.
J.P. Morgan, Morgan Stanley, Leerink Partners and Van Lanschot Kempen were the joint book-runners.
AgomAb Therapeutics NV (AGMB) is developing a pill to treat people with Crohn’s disease with fibrostenosis and an inhaled treatment for people with idiopathic pulmonary fibrosis (IPF).
AgomAb will use the IPO’s proceeds to finance the Phase 2 clinical trials for its leading product candidates – ontunisertib (AGMB-129) – its pill for Crohn’s disease – about $120 million earmarked from the IPO – and AGMB-447 – its inhaled treatment for pulmonary fibrosis – about $80 million from the IPO, according to the prospectus.
Pfizer owned a pre-IPO stake of 5.73 percent. Pfizer will hold a 4.1 percent stake after the IPO, the prospectus said.
AgomAb Therapeutics, like most biotechs at the time they go public, is not profitable: AgomAb Therapeutics reported a net loss of $65.98 million on no product revenue for the 12 months that ended Sept. 30, 2025, according to financial statements in the prospectus.
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