BUZZ-Lycia Therapeutics shares surge on Nasdaq debut after its IPO size was increased to 317.5 millions dollars

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October 23 - ** Lycia Therapeutics LYCA.O soared 27.5% in its Nasdaq debut, after its US initial public offering (IPO) was upsized to $317.5 million

** The drug development company's shares opened at $28.55 each, while the IPO was priced at $18 (link)

** South San Francisco, California-based LYCA sold 17.6 million shares at the top end of its $16-18 price range (link) (link)

** The fall 2026 IPO window is focused mainly on biotech, as higher borrowing costs and market volatility restrain other sectors (link)

** The window has been turbulent due to a string of high-profile postponements as investors become more selective

** LYCA, founded by Nobel laureate Carolyn Bertozzi, is developing drugs to treat autoimmune, inflammatory and allergic diseases

** Jefferies, TD Cowen, Evercore ISI and Guggenheim Securities are joint bookrunners on the LYCA offering

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