Kardigan, Inc. has priced its upsized initial public offering of 25,000,000 shares of common stock at a public offering price of $16 per share, targeting gross proceeds of $400 million before underwriting discounts and commissions. The clinical-stage precision therapeutics company, which focuses on cardiovascular diseases, has granted underwriters a 30-day option to purchase up to an additional 3,750,000 shares at the initial public offering price. All shares are being offered by Kardigan.

The company's common stock is expected to begin trading on the Nasdaq Global Market on June 18, 2026, under the ticker symbol "KARD." The offering is anticipated to close on June 22, 2026, subject to customary closing conditions. Registration statements relating to these securities have been filed with the U.S. Securities and Exchange Commission and became effective on June 17, 2026.

J.P. Morgan Securities LLC, Jefferies LLC, Leerink Partners LLC, and TD Securities (USA) LLC are acting as the underwriters for the offering. A copy of the final prospectus may be obtained from the underwriters upon availability.

Key Offering Details

Kardigan is developing medicines that target the root cause of specific cardiovascular diseases where no approved treatments exist. The company is based in South San Francisco, California and Princeton, New Jersey.