City Therapeutics prices upsized IPO at $18 per share

Cambridge, Massachusetts-based biotech firm City Therapeutics (NASDAQ:CTY) announced on Wednesday that it priced its IPO at $18.00 per share. The Cambridge-based company offered 11.11 million shares of common stock, surpassing its initially planned issuance. The IPO is projected to raise around $200 million in gross proceeds, post-underwriting costs and estimated expenses.

Underwriters were granted a 30-day window to buy up to an extra 1.67 million shares at the IPO price, excluding discounts and commissions. City Therapeutics' shares will start trading on the Nasdaq Global Market under the symbol CTY as of today. The offering is set to conclude on October 19, 2026, once all closing conditions are met.

Goldman Sachs & Co. LLC, Jefferies, Stifel, and Oppenheimer & Co. are collaborating as joint book-running managers for the IPO. City Therapeutics specializes in RNA interference therapeutics and is presently in the clinical phase. Their development pipelines encompass CITY-FXI for thromboembolic diseases, CITY-RBP4 for Stargardt disease and other retinal conditions, and CITY-TFR2 for anemia linked to chronic ailments.

The U.S. Securities and Exchange Commission approved the company's registration statements for the securities on October 15, 2026.