Corporate ActionJun 11, 2026, 06:26 AM
Kardigan to IPO 23.3M shares at $14.00-$16.00; seeks Nasdaq listing
AI Summary
Kardigan, Inc. filed a preliminary prospectus for its initial public offering, planning to offer 23,333,334 shares of common stock at an estimated price range of $14.00 to $16.00 per share. The company expects to raise approximately $320.3 million in net proceeds, which will be used to fund the clinical development of its three late-stage cardiovascular therapies: Danicamtiv, Ataciguat, and Tonlamarsen, as well as other R&D and general corporate purposes. Kardigan is a clinical-stage precision therapeutics company leveraging its Prolaio data and analytics platform, but has incurred significant losses and faces substantial doubt about its ability to continue as a going concern.
Key Highlights
- Initial Public Offering of 23,333,334 common shares.
- Estimated IPO price range between $14.00 and $16.00 per share.
- Expected net proceeds of approximately $320.3 million at the midpoint price.
- Underwriters have a 30-day option to purchase up to an additional 3,500,000 shares.
- Proposed listing on the Nasdaq Global Market under the symbol "KARD".
- Reported a net loss of $(56,071) thousand for the three months ended March 31, 2026.
- Reported a net loss of $(191,941) thousand for the year ended December 31, 2025.
- Management and auditors concluded substantial doubt about the company's ability to continue as a going concern.
Price Impact
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