TRex Bio raises $117M in Nasdaq IPO at $14 a share
What's the deal? TRex Bio, a clinical-stage biotechnology company, priced its initial public offering at $14.00 per share, raising roughly $116.7 million in gross proceeds. The company sold 8,333,334 shares, with its stock expected to begin trading on the Nasdaq Global Select Market on October 9, 2026, under the ticker "TRXB."
What's the endgame? The South San Francisco-based company focuses on tissue regulatory T-cell biology to develop treatments for autoimmune and inflammatory diseases. The IPO proceeds give it fresh capital to advance that work.
Who's backing it? J.P. MorganDealroom has a profile for this one. Try Dealroom →, Evercore ISI, CantorDealroom has a profile for this one. Try Dealroom →, and Stifel are acting as lead book-running managers, with Wedbush PacGrow as book-running manager. The offering is expected to close on October 13, 2026, subject to customary closing conditions.
TRex Bio granted underwriters a 30-day option to buy up to an additional 1,250,000 shares at the IPO price, less discounts and commissions. All shares in the offering are being sold by the company itself.
The signal: A clinical-stage biotech pricing its debut at the top of its range points to investor appetite returning to a sector that leans heavily on public markets for funding. For TRex Bio, the listing marks the shift from private backing to the scrutiny and capital of public ownership.
Read more: streetinsider.com
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