After asserting plans to go public on the prime of the yr, Eikon Therapeutics has now revealed the proceeds it hopes to drag in from its preliminary inventory providing: $273.5 million.
The oncology biotech plans to supply 17,648,000 shares at $17 a pop, in accordance with a Jan. 28 submitting with the Securities and Trade Fee. The utmost worth outlined by Eikon is $18 per share, which might web a whopping $317.7 million if all shares have been offered at that worth.
Moreover, Eikon’s underwriters have 30 days to buy as many as 2,647,200 extra shares within the firm, in accordance with the submitting.
Ought to Eikon reach its IPO plans, it’s going to grow to be the second biotech to go public this yr, after Aktis Oncology.
Eikon introduced itself in 2021 with former Merck & Co. exec Roger Perlmutter, M.D., Ph.D., on the helm, and shortly established itself as a savvy fundraiser. The California most cancers firm corralled $517 million in 2022, $106 million in 2023 and $350 million final February.
The biotech is eyeing the Nasdaq to help its bundle of 4 clinical-stage candidates. Eikon’s pipeline is led by EIK1001, a toll-like receptor 7 and eight agonist immune modulator acquired from Seven and Eight Biopharmaceuticals. EIK1001 is presently being examined in a section 2/3 trial together with Keytruda for superior melanoma and a section 2/3 research for non-small cell lung most cancers.
Then there’s a pair of PARP1 inhibitors, EIK1003 and EIK1004, that Eikon snagged from Chinese language biotech Influence Therapeutics. These candidates are being trialed in section 1/2 research for ovarian, breast, prostate and pancreatic cancers, with EIK1004 additionally being assessed in opposition to mind metastases and first mind malignancies as a consequence of its capability to cross the blood-brain barrier.
The fourth medical candidate is an in-house WRN helicase inhibitor known as EIK1005, which is in section 1/2 growth for strong tumors.
However even with over $1 billion raised up to now, Eikon wasn’t in a position to evade the turmoil that gripped the biopharma trade final yr. In Might 2025, the biotech laid off virtually 15% of its workforce, a transfer Eikon pinned on authorities funding cuts.
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