City Therapeutics sets $17 to $19 range for $175 million Nasdaq IPO
As seen on the 24/7 Wall St. homepage on October 9, 2026.
City Therapeutics sets $17-$19 range for $175 million Nasdaq IPO
The RNAi developer just put real terms on its Nasdaq listing: 9.72 million shares at $17 to $19, or about $175 million raised. Goldman Sachs and Jefferies lead the book, which means pricing is likely days away.
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City Therapeutics has filed amended terms for its initial public offering, a deal that would raise approximately $175 million. The amendment marks a meaningful step forward from a placeholder filing, giving institutional investors concrete terms to react to.
Goldman Sachs and Jefferies are running the books on the deal. Having two of Wall Street's most active IPO underwriters at the helm typically signals that the syndicate has already done substantial pre-marketing work with large funds, and that pricing is likely close rather than weeks away.
City Therapeutics is developing therapies based on RNA interference, a gene-silencing technology that has attracted significant biotech investment in recent years. RNAi drugs work by selectively blocking the production of disease-causing proteins, and several approved medicines in the class have validated the approach commercially, making the sector a credible draw for public market investors.
No final price has been set yet, so investors watching this deal should follow the SEC filing for further amendments showing whether demand prices the offering above, within, or below the stated range.
Mentioned: CTY