Corporate ActionAug 4, 2026, 06:08 AM
Latigo Biotherapeutics Files for IPO of 16M Shares
AI Summary
Latigo Biotherapeutics, a clinical-stage biopharmaceutical company, filed an S-1/A registration statement for an initial public offering of 16,000,000 shares of common stock, expected to price between $16.00 and $18.00 per share and list on Nasdaq under "LTGO". The company highlighted positive data for its lead non-opioid pain candidate, LTG-001, in a pivotal abdominoplasty trial, which met its primary endpoint with high statistical significance and showed superior analgesic effect and rapid onset compared to Vicodin. Proceeds from the IPO will fund the advancement of LTG-001 into Phase 3 trials and further development of its pipeline, despite reporting substantial net losses in recent years.
Key Highlights
- Latigo Biotherapeutics plans an IPO of 16,000,000 common shares at an expected price range of $16.00-$18.00 per share.
- LTG-001 abdominoplasty trial met its primary endpoint (SPID48) with high statistical significance.
- High dose LTG-001 showed a 62.1-point improvement versus placebo, exceeding Vicodin's 40.9-point improvement.
- Median time to meaningful pain relief for high dose LTG-001 was 52 minutes, compared to 83 minutes for Vicodin.
- 52.3% of high dose LTG-001 patients remained opioid-free during the 48-hour treatment period.
- Company plans to initiate Phase 3 bunionectomy and open-label safety trials for LTG-001 in H2 2026.
- Preliminary unaudited cash and cash equivalents were $54.8 million as of June 30, 2026.
- Net losses were approximately $61.2 million in 2024 and $109.2 million in 2025.
Price Impact
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