Iambic Therapeutics (IAM Proposed), a biotech targeting breast cancer and lung cancer, unveiled the terms for its $150 million IPO early today and launched the deal for pricing next week. The company is offering 9.38 million shares at a price range of $15.00 to $17.00 to raise $150 million, if priced at the $16.00 mid-point of its range, according to its S-1/A filing dated Oct. 8, 2026. At pricing, Iambic Therapeutics would have a market cap of $758.41 million.
J.P. Morgan, Jefferies, BofA Securities and Citigroup are the joint book-runners.
San Diego-based Iambic Therapeutics, Inc. uses its AI platform to design small molecule cancer drugs.
“We are evaluating our leading drug candidate, IAM 1363, in a Phase 1/1B trial as a therapy for patients with HER2-altered solid tumors. A registrational trial may begin as soon as 2027,” Iambic Therapeutics said in the prospectus.
IAM1363 is “an oral highly selective, pan-mutant, and brain-penetrant small molecule inhibitor of human epidermal growth factor receptor 2 (HER2),” the prospectus said.
“We believe IAM1363 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.”
Iambic Therapeutics is not profitable: Net loss of $94.25 million on collaboration revenue of $18.25 million for the 12 months that ended on June 30, 2026.
(For more information about this company, please check the IPO Calendar and the individual IPO Profile found on the IPOScoop.com website.)
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