City Therapeutics prices upsized $200 million Nasdaq IPO
City Therapeutics sold 11.1 million shares at $18 each to raise $200 million in gross proceeds to advance its pipeline of RNA-interference (RNAi) drugs, which turn off disease-linked genes. The biotech earmarked $30 million to take its Factor XI-targeting candidate, CITY-FXI, through Phase 1 and into mid-stage testing to prevent blood clots after knee surgery. Another $60 million will fund early trials for two liver-targeted siRNA assets designed to treat ocular diseases, including Stargardt disease, and anemia.