Eikon Therapeutics, Inc. is a clinical‑stage biotechnology company based in California, U.S., focused on oncology drug discovery and development, combining advanced imaging technologies with innovative therapeutic pipelines. The company filed for a U.S. IPO on the Nasdaq Global Market under the ticker “EIKN” to accelerate development of its cancer treatment programs and expand research platforms.
The offering includes the sale of approximately 17.65 million shares at a price range of US $16.00 – $18.00 per share (expected), targeting a gross IPO raise of up to ~$317.7 million before underwriters’ overallotment option — a sign of strong investor interest amid improving biotech IPO markets in 2026.
IPO DETAILED INFORMATION
| Parameter | Details |
| IPO Type | U.S. IPO — Nasdaq Global Market |
| Ticker Symbol | EIKN |
| Price Range (Expected) | US $16.00 – US $18.00 per share |
| Shares Offered | ~17,648,000 shares |
| Overallotment (Greenshoe) | ~2,647,200 shares optional |
| Gross Raise (Approx) | Up to ~$317.7 million |
| Net Proceeds (Estimate) | ~$273.5 million (no greenshoe) / ~$315.4 million (with greenshoe) |
| Underwriters | J.P. Morgan, Morgan Stanley, BofA Securities, Cantor Fitzgerald, Mizuho |
| Exchange | Nasdaq Global Market |
| Listing Country | United States (U.S.) |
| Valuation Target | Up to ~$908 million estimated pre‑money |
Note: Final pricing, shares offered, and valuation will depend on market conditions at pricing (potentially early February 2026).
Objects of the Issue (Fund Utilization)
Net proceeds from the IPO are expected to be used for:
- Advancing Clinical Development:
• Progressing key programs such as EIK1001 in Phase 2/3 oncology trials for melanoma and non‑small cell lung cancer (NSCLC).
• Supporting early‑stage assets (e.g., PARP inhibitors and other pipeline candidates). - Technology Platform Expansion:
• Scaling proprietary high‑throughput drug discovery tools combining imaging, computing, and molecular insights to generate next‑generation therapeutics. - Working Capital & General Corporate Purposes:
• Support research operations, regulatory efforts, and global clinical programs.
Lead Managers & Registrar
- Underwriters / Joint Bookrunners: J.P. Morgan, Morgan Stanley, Bank of America Securities, Cantor Fitzgerald, Mizuho — seasoned global investment banks for biotech IPOs.
- Registrar / Transfer Agent: Typical U.S. transfer agent details (e.g., American Stock Transfer & Trust) will be specified in the final prospectus at pricing.
Promoters & Leadership
Eikon Therapeutics does not have “promoters” in the Indian sense — it is a venture‑backed firm led by:
- Roger Perlmutter, M.D., Ph.D. — CEO & Chair, former Merck R&D head (Keytruda).
- Founding Scientists: Nobel Prize winner Eric Betzig and others with expertise in imaging and drug discovery technologies.
Major investors include venture capital firms such as Lux Capital, Foresite Capital, The Column Group, T. Rowe Price Associates, and others backing the company through multiple funding rounds exceeding $1 billion before IPO.
COMPANY DETAILS
Incorporation & Core Business:
Founded in 2019, headquartered in Hayward & Millbrae, California, U.S., Eikon focuses on developing novel oncology and immunology therapeutics using advanced live‑cell protein imaging and engineered discovery platforms.
Technology & Platform:
The company’s discovery engine integrates super‑resolution microscopy and high‑performance computing to observe protein behavior — aiming to accelerate target discovery and candidate optimization across multiple indications.
Pipeline Highlights:
- EIK1001: Leading oncology asset in Phase 2/3 trials for advanced melanoma and NSCLC.
- Other Programs: PARP1 inhibitors, WRN helicase inhibitors, and additional immuno‑oncology candidates in early development.
Global Operations & Funding:
Eikon has raised over $1 billion in venture capital and conducts research and trials worldwide, positioning itself as a major biotech innovator.
Company Strengths
- Strong Leadership & Track Record: Led by Roger Perlmutter, with deep oncology R&D experience (Keytruda legacy).
- Advanced Discovery Platform: Proprietary high‑throughput imaging accelerates drug discovery beyond traditional methods.
- Robust Pipeline: Multiple clinical and preclinical assets addressing high‑need cancers.
- Major Venture Support: Backed by top life‑sciences investors with significant funding history.
- Growing Clinical Footprint: Trials spanning multiple countries and indications.
Key Risks & Challenges
- Clinical Development Risk: High R&D failure rates typical in late‑stage biotech can impact valuations and timelines.
- Regulatory Risk: FDA and global approvals are inherently uncertain and time‑intensive.
- Capital Intensity: Future financing may be required beyond IPO proceeds.
- Competitive Oncology Landscape: Intense competition from big pharma and other emerging biotech firms.
- Market Volatility: Biotech IPO performance can be volatile amid sector shifts.
Disclaimer
This document is for educational and informational purposes and does not constitute investment advice. Investors should read the final SEC prospectus and consult financial professionals before investing. Past performance is not indicative of future results and all investments are subject to risk.
Source: SEC prospectus
