Oncology-focused biopharmaceutical firm Eikon Therapeutics stepped onto the public stage Thursday, as Eikon’s Upsized $381M IPO powered its Nasdaq debut in a show of investor confidence and late-stage biotech ambition.
The company raised $381 million after selling 21.2 million shares at $18 each. Trading began under the ticker symbol EIKN, marking a milestone moment for the cancer drug developer as it transitions from privately backed innovator to publicly traded contender.
From $300M Target to $381M Reality
Just a week earlier, Eikon had signaled to regulators that it intended to raise about $300 million by offering 17.6 million shares priced between $16 and $18.
But demand proved stronger than anticipated. The company increased both the size and scale of the deal, pricing at the top of the marketed range and expanding the share count — a clear sign that Wall Street’s appetite for oncology innovation remains robust.
The offering is expected to close Friday. Additionally, Eikon granted its underwriters a 30-day option to purchase up to roughly 3.2 million additional shares of common stock at the IPO price, potentially pushing the total raise even higher.
