Corporate ActionAug 3, 2026, 06:13 AM
Latigo Biotherapeutics Announces IPO of 16M Shares at $16-$18
AI Summary
Latigo Biotherapeutics, Inc. filed an S-1/A for its initial public offering, proposing to sell 16,000,000 shares of common stock at an expected price range of $16.00 to $18.00 per share. The company, focused on non-opioid pain medicines, reported positive Phase 3 results for its lead candidate LTG-001 in an abdominoplasty trial, meeting its primary endpoint and demonstrating significant opioid sparing. It also plans to initiate further Phase 3 trials for LTG-001 and a Phase 2 trial for LTG-321.
Key Highlights
- Offering 16,000,000 common shares at $16.00-$18.00 per share in IPO.
- Applied to list common stock on Nasdaq Global Select Market under "LTGO".
- Underwriters have a 30-day option to purchase up to 2,400,000 additional shares.
- LTG-001 Phase 3 abdominoplasty trial met primary endpoint with 62.1-point SPID48 improvement.
- 52.3% of high-dose LTG-001 patients remained opioid-free in 48-hour period.
- Plans to initiate Phase 3 bunionectomy and safety trials for LTG-001 in H2 2026.
- Initiated Phase 2 trial for LTG-321 in osteoarthritis of the knee.
- Preliminary cash and cash equivalents of $54.8 million as of June 30, 2026.
Price Impact
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