City Therapeutics IPO priced at $17-$19 a share

By Colin Kellaher City Therapeutics on Friday said it plans to sell more than 9.72 million shares at between $17 and $19 apiece in its initial public offering. At the $18 midpoint of that price range, the Cambridge, Mass., clinical-stage biotechnology company said it expects net proceeds of about $158.3 million, or roughly $182.7 million if the underwriters exercise an option to buy an additional 1.46 million shares. City, which is working to develop RNA interference therapeutics designed to silence the expression of disease-relevant proteins, said it expects the proceeds, coupled with its existing resources, will be sufficient to fund its operations into late 2028. City said it would have about 51.8 million shares outstanding after the IPO, assuming an exercise of the overallotment option, for a market capitalization topping $930 million at the $18-a-share pricing midpoint. The company said it has applied to list its shares on the Nasdaq Global Market under the symbol CTY. Write to Colin Kellaher at colin.kellaher@wsj.com (END) Dow Jones Newswires October 09, 2026 06:37 ET (10:37 GMT) Copyright (c) 2026 Dow Jones & Company, Inc. The statements in this document shall not be considered as an objective or independent explanation of the matters. Please note that this document (a) has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and (b) is not subject to any prohibition on dealing ahead of the dissemination or publication of investment research.