Lycia Therapeutics, Inc. Form 424B4 — Oct 23, 2026
Lycia Therapeutics priced its IPO at $18.00 per share, selling 17,640,000 shares for gross proceeds of $317.5 million (~$290.7 million net), with a 30-day greenshoe option for 2,646,000 additional shares. Shares will list on Nasdaq under ticker LYCA, with closing expected on or about October 26, 2026. The clinical-stage biotech is developing LYTAC extracellular protein degraders for autoimmune, inflammatory and allergic diseases, led by Phase 1 IgE degrader LCA-0061, which showed a mean maximum IgE reduction of 96% at a single 70 mg SC dose. Combined pro forma cash of ~$439.4 million funds operations into the second half of 2029.
Key figures
- Greenshoe
- 2646000
- Cash Position
- $439.4M pro forma as adjusted (including offering proceeds)
- Gross Proceeds
- 317520000
- Offering Price
- 18
- Shares Offered
- 17640000
- Shares Outstanding
- 55,034,559 post-offering (57,680,559 with full greenshoe exercise)
- Runway Into
- second half of 2029
- Net Proceeds
- $290.7M (or ~$335.0M with full greenshoe)
- Net Loss Fy2025
- 36500000
- Reverse Split Ratio
- 1-for-4.5087 (effected October 19, 2026)
- Accumulated Deficit
- 136800000
- Cash As Of Jun30 2026
- 148100000
- Proceeds Before Expenses
- 295293600
- Underwriting Discount Per Share
- 1.26
- Cash As Of Sep30 2026 preliminary
- 138200000
- Gross Preferred Raised Since Inception
- 266600000
AI analysis
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