Iambic Therapeutics, a biotech company specializing in AI-driven drug discovery, began trading on the Nasdaq exchange on October 15, 2026. The company raised $150 million through an initial public offering, selling 9.375 million shares at a price of $16 per share. On its first day of trading, the stock price rose 16% to $18.50 under the ticker symbol IAM.
The debut resulted in a market valuation for the San Diego-based firm ranging between approximately $758 million and $877 million. Prior to the IPO, the company had secured over $460 million in private funding from investors including Nvidia, ARK Investment Management, and Sequoia. As of June 30, 2026, the firm reported a net loss of $94.25 million.
Founded in 2019 as Entos and rebranded in 2023, Iambic currently employs about 171 people. The company utilizes proprietary AI systems, NeuralPLexer and Enchant, to develop small-molecule drugs for oncology. Its lead candidate, IAM1363, is currently in Phase 1/1b clinical trials, with a potential registrational study expected to commence as early as 2027.
