- Sector: HealthcareIndustry: Biotechnology
- Incorporated in 2019
- HQ in Millbrae, California
- https://www.eikontx.com/
Eikon Therapeutics priced 21,177,600 share IPO (upgraded from 17.7 mln prior) at $18.00 per share, at the high end of the $16-18 expected range
Eikon's upsized $381M Nasdaq listing marks largest biotech IPO since 2024
Ticker: EIKN
At $381 million, Eikon looks set to be the largest biotech IPO since 2024, overtaking Aktis Oncology’s $318 million offering last month.
The California-based company has already set out its plans for spending the proceeds, with the biggest priority labeled as the clinical development of EIK1001. The toll-like receptor 7 and 8 agonist immune modulator, which Eikon acquired from Seven and Eight Biopharmaceuticals, is currently being tested in a phase 2/3 trial in combination with Keytruda for advanced melanoma and a phase 2/3 study for non-small cell lung cancer.
Behind EIK1001 is a pair of PARP1 inhibitors, dubbed EIK1003 and EIK1004, which Eikon licensed from Chinese biotech Impact Therapeutics. These candidates are being trialed in phase 1/2 studies for ovarian, breast, prostate and pancreatic cancers, with EIK1004 also being assessed against brain metastases and primary brain malignancies due to its ability to cross the blood-brain barrier.
The fourth clinical candidate is an in-house WRN helicase inhibitor called EIK1005, which is in phase 1/2 development for solid tumors.
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