Retension Pharmaceuticals prices IPO at $12 per share

Falls Church, Virginia - Retension Pharmaceuticals, Inc. (NASDAQ:RTSN) announced on Wednesday that it priced its initial public offering at $12.00 per share, according to a press release. The company sold 3,750,000 shares in the larger-than-expected offering, raising an estimated $45.0 million in gross proceeds before expenses. Underwriters were given a 30-day option to buy up to an additional 562,500 shares at the offering price.

Trading of the stock will begin today on the Nasdaq Capital Market, under the ticker symbol RTSN. The offering is set to close on October 13, 2026, pending customary closing conditions. Retension plans to use the net proceeds, along with cash on hand, to finish the Phase 2b clinical trial of RTN-001 for treating uncontrolled hypertension and prepare for a planned Phase 3 trial.

Remaining funds will be used for general corporate expenses. The biopharmaceutical company is dedicated to creating medicines for hypertension and other cardiovascular diseases, with its lead drug, RTN-001, a PDE5 inhibitor being developed for patients with uncontrolled and resistant high blood pressure. RTN-001 has been tested in several clinical trials with 265 participants.

Underwriters for the IPO include Leerink Partners, Guggenheim Securities, and Oppenheimer & Co., with Titan Partners acting as lead manager. Registration statements for the securities were made effective on October 8, 2026. RTN-001 is safeguarded by an exclusive worldwide license from Sanofi.