Iambic Therapeutics Prices IPO at $16 to Raise $150 Million

Iambic Therapeutics priced its initial public offering at $16 per share on Wednesday, aiming to raise $150 million in gross proceeds. The San Diego-based AI drug developer is scheduled to begin trading on the Nasdaq Global Select Market on Thursday under the ticker symbol IAM.

The company plans to use the new capital to advance three early-stage cancer drug candidates. This includes IAM1363, a treatment targeting HER2-positive solid tumors that moved into clinical testing in roughly two years.

Existing investors including Nvidia, ARK Investment Management, and Duquesne Family Office are linked to the company's financing. ARK and Duquesne indicated they may purchase a portion of up to $60 million in shares. The offering is supported by joint book-running managers J.P. Morgan, Jefferies, BofA Securities, and Citigroup.

Financial reports for the first half of 2026 show Iambic generated $12.8 million in revenue and recorded a net loss of $50.1 million.