IPOs/Nasdaq Global Market/2026/City Therapeutics, Inc.

City Therapeutics, Inc. CTY

City Therapeutics, Inc. (CTY) priced its IPO on Nasdaq Global Market on October 16, 2026 at $18.00 a share. Clinical-stage biotechnology company developing next-generation RNA interference therapeutics to silence disease-relevant proteins for patients with thromboembolic diseases, Stargardt disease, and anemia of chronic disease. Based in Cambridge, Massachusetts.

Registered
Priced
TradingNot yet
Offer price
$18.00
Raised
Not given
Shares offered
11,111,111 shares
Lock-up
180 days
See the prospectus →

The company

City Therapeutics, Inc. is a clinical-stage biotechnology company based in Cambridge, Massachusetts, developing next-generation RNA interference therapeutics to silence disease-relevant proteins for patients with thromboembolic diseases, Stargardt disease, and anemia of chronic disease. It sold 11,111,111 shares at $18.00 per share.

The company will use proceeds to fund clinical development of CITY-FXI, CITY-RBP4, and CITY-TFR2, and to advance its City Platform. ARCH Venture Fund XII, L.P. holds 26.03% after the offering, followed by FMR LLC at 7.44% and John Maraganore, Ph.D. at 4.08%.

Where the money goes

approximately $30.0 million to fund the clinical development of CITY-FXI
approximately $20.0 million to fund the clinical development of CITY-RBP4
approximately $40.0 million to fund the clinical development of CITY-TFR2
approximately $70.0 million to advance our City Platform

Revenue and results

Revenue, Year ended December 31, 2024$2,778 thousand
Revenue, Year ended December 31, 2025$13,562 thousand
Revenue, Six months ended June 30, 2025$5,578 thousand
Revenue, Six months ended June 30, 2026$6,358 thousand
Net result, Year ended December 31, 2024loss of $27,836 thousand
Net result, Year ended December 31, 2025loss of $58,505 thousand
Net result, Six months ended June 30, 2025loss of $24,282 thousand
Net result, Six months ended June 30, 2026loss of $53,443 thousand

The risks it lists first

We are a clinical-stage biotechnology company with a limited operating history and no products approved by regulators for commercial sale, which may make it difficult to evaluate our current and future business prospects.
The approach we are taking to discover and develop certain of our product candidates is novel and may never lead to marketable products.
We are early in our development efforts. We have only recently initiated early clinical studies, and as a result it will be years before we commercialize a product candidate, if ever.