BUZZ - Lycia Therapeutics set to debut on Nasdaq after expanding IPO size to $317.5 million, shares poised to soar

October 23 - ** Lycia Therapeutics (stock code: LYCA.O) is expected to open higher on its first day of trading on Nasdaq after expanding the size of its US initial public offering (IPO) to $317.5 million.

** The drug development company expects an opening price of $20 per share, above the IPO issue price of $18 (link)

** Based in South San Francisco, California, LYCA sold 17.6 million shares at the top end of the $16 to $18 offering range (link) (link)

** The fall 2026 IPO window is centered primarily on the biotech sector, as rising borrowing costs and increased market volatility have limited other industries (link)

** This IPO window has been turbulent due to several high-profile postponements as investors become more selective

** Jefferies, TD Cowen, Evercore ISI, and Guggenheim Securities are acting as joint bookrunners for LYCA's offering

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