Eikon Therapeutics, a Phase 2 biotech developing therapies for immuno-responsive cancers, announced terms for its IPO on Wednesday.
The Millbrae, CA-based company plans to raise $300 million by offering 17.6 million shares at a price range of $16 to $18. At the midpoint of the proposed range, Eikon Therapeutics would command a market value of $900 million. It is expected to price the week of February 2nd, 2026.
Eikon Therapeutics is a late-stage clinical biopharmaceutical company focused on developing medicines for serious unmet medical needs, with an initial emphasis on oncology. It is advancing a pipeline of drug candidates, including EIK1001, a TLR 7/8 dual-agonist in global Phase 2/3 trials for advanced melanoma with approximately 740 patients across 22 countries and for stage 4 NSCLC with about 750 patients, alongside Phase 2 trials for NSCLC in the US involving around 60 patients. Additionally, Eikon is conducting Phase 1/2 trials for selective PARP1 inhibitors EIK1003 and EIK1004 in cancers such as ovarian and breast, with 65 and 16 patients enrolled respectively, and for EIK1005, a WRN helicase inhibitor, targeting MSI-high tumors with a Phase 1/2 trial set to begin dosing in early 2026.
Eikon Therapeutics was founded in 2019 and plans to list on the Nasdaq under the symbol EIKN. J.P. Morgan, Morgan Stanley, BofA Securities, and Cantor Fitzgerald are the joint bookrunners on the deal.
