TRex Bio (TRXB) sets $14 to $16 range for its $125 million Nasdaq IPO
As seen on the 24/7 Wall St. homepage on October 5, 2026.
TRex Bio sets $14-$16 range for $125 million Nasdaq IPO
TRex Bio just put a number on its Nasdaq debut: 8.33 million shares at $14 to $16, or roughly $125 million for the regulatory T cell developer. J.P. Morgan and Evercore ISI lead the book, with pricing days away.
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TRex Bio, Inc. is aiming to raise roughly $125 million in its Nasdaq offering, according to an amended SEC filing. Pricing is expected within days.
The company is developing regulatory T cell therapies, placing it in one of the more closely watched corners of clinical-stage biotech. Regulatory T cells, often called Tregs, are being explored as a way to modulate the immune system in diseases where inflammation or immune overactivation plays a central role.
J.P. Morgan and Evercore ISI are leading the book, a pairing that signals meaningful institutional interest in the deal. Lead underwriters of that caliber typically bring a well-organized roadshow and a base of large allocations from buy-side accounts before pricing is set.
Investors watching the biotech IPO calendar will want to track where the deal prices relative to the $14 to $16 range. Pricing above the midpoint signals strong demand, while pricing at or below the low end marks thinner appetite for early-stage cell therapy names at this valuation.