Kardigan on track to open higher in Nasdaq debut after upsized $400 million IPO

Kardigan

18/06/2026 15:14

** Heart drug developer Kardigan KARD.O on track to open above offer price in Nasdaq debut after $400 million IPO
** Stock recently indicated to open at $21 apiece vs $16 offer price
** KARD sold 25 million shares in an upsized IPO at top end of marketed range of $14 and $16 each 
** Biotech IPOs have made a strong comeback this year after a tepid 2025, with a string of sizable offerings pricing over the past two months
** KARD is developing medicines targeting root cause of specific cardiovascular diseases 
** It is advancing three late-stage experimental cardiovascular therapies - danicamtiv, ataciguat and tonlamarsen
** J.P. Morgan Securities, Jefferies, Leerink Partners , and TD Securities were underwriters for offering

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))