Iambic Therapeutics, Inc. (NASDAQ: IAM) has priced its initial public offering of 9,375,000 shares of common stock at $16.00 per share. The clinical-stage life sciences company expects gross proceeds of $150.0 million before underwriting discounts and expenses.

All shares in the offering are being sold by Iambic itself. The company has granted the underwriters a 30-day option to purchase up to an additional 1,406,250 shares at the same price, less discounts and commissions.

Offering details and timeline

The common stock is expected to begin trading on the Nasdaq Global Select Market on October 15, 2026, under the ticker symbol "IAM." The offering is scheduled to close on October 16, 2026, subject to customary closing conditions.

Underwriting syndicate

J.P. Morgan, Jefferies, BofA Securities and Citigroup are acting as joint book-running managers for the offering. A registration statement relating to the offering was filed with the Securities and Exchange Commission and became effective on October 14, 2026.

Company profile

Iambic describes itself as a clinical-stage life sciences and technology company advancing novel medicines using its AI-driven platform. The company's mission involves utilizing molecular superintelligence by integrating proprietary AI with automated, scalable chemistry and biology experimentation.

The utility of the platform is demonstrated by the discovery of IAM1363, a novel drug candidate advanced to clinic in approximately two years, alongside a diverse preclinical pipeline. Key AI technologies include Enchant and NeuralPLexer for multimodal endpoint prediction.

Iambic Therapeutics Inc., an AI drug discovery company backed by Nvidia Corp. (NASDAQ: NVDA) and Qatar Investment Authority, filed for an initial public offering with the SEC on Monday.

The Delaware-based firm plans to list on the Nasdaq Global Select Market under the ticker "IAM". Proceeds from the offering will be used to advance three cancer drug candidates through clinical development, with remaining funds allocated to general operating costs.

Key Filing Details

The S-1 filing, dated September 21, 2026, does not disclose the number of shares to be offered or an expected price range. J.P. Morgan, Jefferies, BofA Securities, and Citigroup are underwriting the offering.

According to the filing, Nvidia Corporation beneficially owned 9.6 million shares of Iambic Therapeutics prior to the offering.

Business Overview

Founded in 2019, Iambic combines proprietary AI models with automated lab experiments in an approach it calls "molecular superintelligence." The company has raised roughly $461.8 million in capital since its founding through September 18, 2026. Its five largest shareholders include Catalio, Nexus Ventures, Q Healthcare Holding, Nvidia, and Coatue Ventures.

Iambic holds partnerships with major pharmaceutical firms including AbbVie Inc. (NYSE: ABBV), Takeda Pharmaceutical Company Limited (NYSE: TAK), and Jazz Pharmaceuticals PLC (NASDAQ: JAZZ).

Pipeline Progress

The company’s lead drug candidate is an experimental cancer pill designed to target tumors driven by the HER2 protein, which is currently in early human trials. Two additional cancer drug candidates remain in earlier lab-stage testing. Iambic plans to seek FDA clearance to begin human trials on both by the end of the year.

Financial Performance

Iambic’s full-year 2025 revenue was $9.4 million, up from $1.2 million in 2024. However, its net loss widened to $77.3 million from $47.9 million over the same period.

What the Numbers Show

While revenue grew significantly year-over-year, the widening net loss indicates that operational expenses are outpacing top-line growth as the company advances its clinical pipeline. The substantial capital raise of $461.8 million suggests a long runway for development before profitability is expected.