WASHINGTON (dpa-AFX) - Lycia Therapeutics Inc. (LYCA) a clinical-stage biotechnology company developing treatments for autoimmune, inflammatory, and allergic diseases, said Thursday it priced its upsized initial public offering (IPO) of 17.64 million common shares at $18 each.
The company expects gross proceeds of approximately $317.5 million before underwriting discounts, commissions, and other offering expenses. All shares are being sold by Lycia.
Underwriters have a 30-day option to purchase up to an additional 2.45 million shares at the IPO price, less underwriting discounts and commissions.
Shares are expected to begin trading on the Nasdaq Global Select Market on October 23, 2026, under the symbol 'LYCA'.
The offering is expected to close October 26, subject to customary closing conditions.
Lycia develops therapies designed to degrade disease-causing extracellular proteins. Its lead candidates include LCA-0061 for food allergy and other allergic diseases, and LCA-0321 for Graves' disease.
Jefferies, TD Cowen, Evercore ISI and Guggenheim Securities are joint book-running managers. LifeSci Capital is the passive book-running manager.
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