Kardigan rises in Nasdaq debut after upsized $400 million IPO
Key takeaways
- Kardigan rises in Nasdaq debut after upsized $400 million IPO FILE PHOTO: The Nasdaq logo is displayed on a screen at the Nasdaq Market site in New York City, U.S., April 17, 2026.
- The Princeton, New Jersey-based company s shares opened at $16.25, above its IPO price of $16 per share, after Kardigan sold 25 million shares on Wednesday at the top end of its marketed range of $14 to $16.
- The strong market debut underscores renewed investor appetite for biotech companies with advanced clinical programs and promising drug pipelines as improving market conditions reopen the IPO window for the sector.
Kardigan rises in Nasdaq debut after upsized $400 million IPO FILE PHOTO: The Nasdaq logo is displayed on a screen at the Nasdaq Market site in New York City, U.S., April 17, 2026. REUTERS/Brendan Mc Dermid//File Photo · Reuters Reuters Thu, June 18, 2026 at 11:56 PM GMT+7 1 min read ODTX KLRA June 18 (Reuters) - Kardigan s shares rose 1.6% in their Nasdaq debut on Thursday, after the heart drug developer raised $400 million in an upsized U.S. initial public offering.
The Princeton, New Jersey-based company s shares opened at $16.25, above its IPO price of $16 per share, after Kardigan sold 25 million shares on Wednesday at the top end of its marketed range of $14 to $16.
The strong market debut underscores renewed investor appetite for biotech companies with advanced clinical programs and promising drug pipelines as improving market conditions reopen the IPO window for the sector.