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Reuters
Thu, June 18, 2026 astatine 11:56 AM CDT 1 min read
June 18 (Reuters) - Kardigan's shares roseate 1.6% successful their Nasdaq debut connected Thursday, aft the bosom cause developer raised $400 cardinal successful an upsized U.S. archetypal public offering.
The Princeton, New Jersey-based company's shares opened astatine $16.25, supra its IPO terms of $16 per share, aft Kardigan sold 25 cardinal shares on Wednesday astatine the apical extremity of its marketed scope of $14 to $16.
The beardown marketplace debut underscores renewed capitalist appetite for biotech companies with precocious clinical programs and promising cause pipelines as improving marketplace conditions reopen the IPO model for the sector.
Kardigan's debut adds to a drawstring of palmy biotech listings this year, pursuing beardown first-day performances by autoimmune disease-focused Odyssey Therapeutics, weight-loss cause developer Kailera Therapeutics and proteomics institution Alamar Biosciences.
The clinical-stage biotech Kardigan is processing precision medicines for cardiovascular diseases and is advancing 3 late-stage experimental therapies- danicamtiv, ataciguat and tonlamarsen.
(Reporting by Aditi Tiwari and Prakhar Srivastava successful Bengaluru; Editing by Shailesh Kuber)
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