Latigo Biotherapeutics (LTGO) prices $345.6 million IPO at $18 a share
As seen on the 24/7 Wall St. homepage on August 7, 2026.
Latigo prices $345.6 million IPO at $18 a share
Latigo priced its IPO at $18 a share for $345.6 million, one of the largest biotech raises of the year and enough capital to push its non-opioid painkiller against Vertex's head start. Goldman Sachs, Jefferies, Leerink and Guggenheim ran the books.
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Latigo Biotherapeutics sold 19.2 million shares at $18 each, raising $345.6 million in one of the largest biotech IPOs of the year. The offering was led by Goldman Sachs, Jefferies, Leerink, and Guggenheim, and the stock will trade on Nasdaq under the ticker LTGO.
The proceeds put Latigo in a strong financial position to advance its non-opioid painkiller program, where it faces competition from Vertex, which already has a head start in the space. The size of the raise signals meaningful investor appetite for alternatives to opioid-based pain treatments, a market that has drawn intense interest from both patients and regulators.
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The IPO priced on August 7, 2026, and the terms were disclosed in a filing with the SEC. Investors watching the stock will want to track how Latigo deploys the capital and how its clinical timeline compares to Vertex's progress in the non-opioid pain category.
Mentioned: LTGO