FALLS CHURCH, Va., Oct. 08, 2026 (GLOBE NEWSWIRE) -- Retension Pharmaceuticals, Inc. (Nasdaq: RTSN) ("Retension" or the "Company"), a clinical-stage biopharmaceutical company focused on developing medicines for the treatment of hypertension and other cardiovascular diseases, announced today the pricing of its upsized initial public offering of 3,750,000 shares of its common stock at an initial public offering price of $12.00 per share. The gross proceeds to Retension from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Retension, are expected to be $45.0 million. All shares of common stock are being offered by Retension. Retension has granted the underwriters a 30-day option to purchase up to an additional 562,500 shares of its common stock at the initial public offering price, less underwriting discounts and commissions. The offering is expected to close on or about October 13, 2026, subject to the satisfaction of customary closing conditions. The shares are expected to begin trading on October 9, 2026 on the Nasdaq Capital Market under the ticker symbol "RTSN."
Retension intends to use the net proceeds from the offering, together with existing cash and cash equivalents, to complete the Phase 2b clinical trial of RTN-001 in uncontrolled hypertension (uHTN) and to prepare for, support and advance the planned Phase 3 clinical trial of RTN-001 in uHTN, with the remainder to be used for general corporate purposes and other operating expenses.
Leerink Partners, Guggenheim Securities and Oppenheimer & Co. are acting as joint bookrunning managers for the offering. Titan Partners is acting as lead manager for the offering.
Registration statements relating to these securities became effective on October 8, 2026. The offering is being made only by means of a prospectus. When available, copies of the final prospectus relating to the offering may be obtained from Leerink Partners LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, by telephone at (800) 808-7525 ext. 6105 or by email at syndicate@leerink.com; or Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Ave., 8th Floor, New York, NY 10017, by telephone at (212) 518-9544, or by email at GSEquityProspectusDelivery@guggenheimsecurities.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About Retension Pharmaceuticals
Retension Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing medicines for the treatment of hypertension and other cardiovascular diseases. The Company's lead clinical candidate, RTN-001, is in development for patients with uncontrolled and resistant hypertension.
About RTN-001
Retension Pharmaceuticals is developing RTN-001, a cardiovascular-targeted, next-generation PDE5 inhibitor designed to enhance nitric oxide signaling in central arteries not adequately reached by first-generation PDE5 inhibitors, thereby addressing a core driver of hypertension. RTN-001 has been studied in multiple clinical trials totaling 265 enrolled subjects. In two Phase 2 pilot trials, RTN-001 has achieved clinically meaningful placebo-adjusted reductions in systolic blood pressure and diastolic blood pressure in patients with hypertension. A Phase 2b trial of RTN-001 in hypertension is ongoing. RTN-001 is being developed under an exclusive worldwide license from Sanofi S.A.
Special Note Regarding Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to the Company's closing of its initial public offering. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond the Company's control. All statements other than statements of historical fact, including statements regarding Retension's initial public offering, future results of operations or financial condition, business strategy and plans, and objectives of management for future operations, are forward-looking statements. These forward-looking statements are based on Retension's current expectations and assumptions about future events, which are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict, therefore you should not place undue reliance on these forward-looking statements. Words, including but not limited to, "expect," "anticipate," "should," "believe," "hope," "target," "project," "goals," "estimate," "potential," "predict," "may," "will," "might," "could," "intend," "shall" and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Retension's actual results may differ materially from those expressed in, or implied by, such forward-looking statements due to a number of factors, including but not limited to, risks detailed in the Company's Registration Statement on Form S-1 filed with the U.S. Securities and Exchange Commission ("SEC") on September 18, 2026 as well as other documents that may be filed by the Company from time to time with the SEC. Additional information regarding these and other factors that could affect the Company's results is included in the Company's SEC filings, which may be obtained by visiting the SEC's website at www.sec.gov. Retension undertakes no obligation to update any forward-looking statements after the date of this press release or to conform such statements to actual results or revised expectations, except as required by law.
Contact:
Press and Investor Contact
Alex Schwartz
Chief Financial Officer
investors@retensionpharmaceuticals.com
