City Therapeutics Files for IPO

Dow Jones09-25 05:00

City Therapeutics filed for an initial public offering.

The biotechnology company, which focuses on RNA interference therapeutics, didn't say how many shares it would offer or at what price, according to a Thursday filing with the Securities and Exchange Commission.

City currently has five therapeutics in its pipeline, including two being developed in partnerships with Biogen and with Bausch + Lomb. Its most advanced candidate, CITY-FXI, is being developed as a thrombosis treatment and is currently in a Phase 1 trial.

The company plans to use proceeds from the IPO to support its platform and the clinical development of its pipeline drugs, including the initiation of a Phase 2 study.

It applied to list shares on the Nasdaq Global Market under the symbol CTY.

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