INDIANAPOLIS (dpa-AFX) - TRex Bio, Inc. (TRXB), a clinical-stage biotechnology company developing immunoregulatory therapies for autoimmune and inflammatory diseases, has priced its initial public offering (IPO), marking its entry into the public markets.
The company announced the price of 8.33 million shares of common stock at $14.00 per share, with all shares being offered by TRexBio. The offering is expected to generate approximately $116.7 million in gross proceeds before underwriting discounts, commissions, and other expenses.
TRexBio's shares are expected to being trading on the Nasdaq Global Select Market on October 9, 2026, under the ticker symbol TRXB. The offering is expected to close on or about October 13, 2026, subject to customary closing conditions.
In addition, the company has granted the underwriters a 30-day option to purchase up to 1.25 million additional shares at the IPO price, less underwriting discounts and commissions.
TRexBio focuses on tissue regulatory T-cell (Treg) biology and is developing therapies designed to restore immune balance and promote tissue repair in patients with autoimmune and inflammatory diseases. The company uses its proprietary discovery platform to identify new therapeutic targets and advance its pipeline.
J.P. Morgan, Evercore ISI, Cantor, and Stifel are serving as lead book-running managers for the offering, while Wedbush PacGrow is acting as book-running manager.
Pipeline Progress & Upcoming Catalysts
TRexBio's pipeline is focused on therapies that leverage the biology of tissue regulatory T cells (Tregs) to treat autoimmune and inflammatory diseases.
The company's investigational pipeline includes the following three programs:
-TRB-061 is a TNFR2 agonist being developed for atopic dermatitis. In August 2026, the company reported positive topline results from a first-in-human Phase 1a study in healthy volunteers, demonstrating favourable safety, tolerability, and pharmacologic activity. Initial patient data from a Phase 1b study in atopic dermatitis are expected in mid-2027.
-TRB-071 is a CD30 agonist being developed for immune-mediated diseases. IND-enabling and early clinical development activities are ongoing, with the program representing TRexBio's second internally developed clinical asset.
-TRB-051 is a Treg-targeting program partnered with Eli Lilly. Under the collaboration, Lilly is responsible for clinical development and commercialization activities. The program advanced during 2026, with TRexBio receiving milestone-related validation through the partnership. Lilly's development efforts will drive further clinical progress.
Together, these programs form the foundation of TRexBio's strategy to develop therapies targeting immune regulation in autoimmune and inflammatory diseases, while the collaboration provides opportunity to further evaluate its Treg-focused platform.
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