Biotech IPO Tracker 2026

Live tracker of biotech and biopharma IPOs in 2026 — therapeutic area, lead asset, stage at IPO, pricing date, offer price, gross proceeds, approximate market cap at listing, and aftermarket performance.

● 13 IPOs pricedLast updated 17 June 2026Performance as of 17 June 2026 latest available

IPOs priced

~$4.6B

Total gross proceeds

8 : 5

Above : Below issue

+435%

Best performer

2026 IPO Market Snapshot

Window2026 remains open, but selective — Parabilis priced above range at $20/share, raised $670M, and traded up strongly on debut, adding a record-sized oncology IPO to the year-to-date class. Kardigan has set terms for a proposed Nasdaq IPO, but had not yet priced as of the latest available data, so it remains a watchlist name rather than a tracked priced IPO.

LargestParabilis Medicines is the largest biotech IPO priced in 2026 at $670.0M before any overallotment exercise, ahead of Kailera Therapeutics at $625.0M on the same base-offering basis; total tracked IPO proceeds are roughly $4.6B across US-listed biotech IPOs. Kardigan would be another large cardiovascular listing if it prices, but it is not included in totals until pricing is confirmed.

StandoutVeradermics is still the clear aftermarket winner at roughly +435% from issue price — a reminder that a clean late-stage aesthetic-derm story can still rip even when the broader class is mixed.

BifurcationOf the 13 US-listed names with live aftermarket data, five trade below issue (Odyssey, Seaport, Generate, Agomab, Eikon), while winners remain concentrated in differentiated late-stage, platform-validated, or cleaner commercial-platform stories.

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Company	Therapeutic area	Lead asset	Phase at IPO	Pricing date	Offer price	Proceeds	MCAP at IPO	1-day	vs. offer
Parabilis Medicines	Oncology / Peptide therapeutics / Hard-to-drug targets	zolucatetide (clinical-stage Helicon peptide; desmoid tumors and other solid tumors)	Phase 1/2	10 Jun 2026	$20.00	$670.0M	~$2.3B	+58.0%	+32.9%
Odyssey Therapeutics	Autoimmune / Inflammation	OD-001 (oral RIPK2 inhibitor; ulcerative colitis)	Phase 2	07 May 2026	$18.00	$279.0M	~$900M	-8.8%	-0.7%
Hemab Therapeutics	Rare bleeding disorders	sutacimig / HMB-001 (bispecific antibody; Glanzmann thrombasthenia)	Phase 3-ready	30 Apr 2026	$18.00	$346.7M	~$841M	+88.9%	+41.7%
Seaport Therapeutics	Neuropsychiatry	GlyphAllo (oral neuroactive steroid; major depressive disorder)	Phase 2b	30 Apr 2026	$18.00	$254.9M	~$912M	+10.2%	-0.2%
Avalyn Pharma	Rare lung disease	AP01 (inhaled pirfenidone; idiopathic pulmonary fibrosis)	Phase 2/3	29 Apr 2026	$18.00	$345.0M	~$813M	+63.8%	+55.9%
Kailera Therapeutics	Obesity / Metabolic disease	ribupatide (GLP-1/GIP dual agonist; obesity)	Phase 3	16 Apr 2026	$16.00	$625.0M	~$2.0B	+62.5%	+15.9%
Alamar Biosciences	Proteomics / Diagnostics	NULISA / ARGO HT System (ultrasensitive proteomics platform)	Commercial	16 Apr 2026	$17.00	$219.9M	~$1.53B	+33.0%	+18.0%
Generate Biomedicines	Inflammation / Immunology / Oncology	GB-0895 (half-life-extended anti-TSLP; severe asthma)	Phase 3	26 Feb 2026	$16.00	$400M	~$2.2B	-21.0%	-16.4%
SpyGlass Pharma	Ophthalmology	BIM-IOL System (bimatoprost drug-pad IOL; OAG/OHT)	Phase 3	05 Feb 2026	$16.00	$172.5M	~$842M	+65.0%	+9.7%
Agomab Therapeutics	Inflammation / Fibrosis	AGMB-129 / ontunisertib (oral ALK5 inhibitor; fibrostenosing Crohn's)	Phase 2a	05 Feb 2026	$16.00	$200M	~$780M	-8.4%	-37.5%
Eikon Therapeutics	Oncology	EIK1001 (TLR7/8 agonist; advanced melanoma)	Phase 2/3	04 Feb 2026	$18.00	$381M	~$972M	-16.7%	-49.6%
Veradermics	Aesthetic dermatology	VDPHL01 (extended-release oral minoxidil; androgenetic alopecia)	Phase 3	03 Feb 2026	$17.00	$294.8M	~$596M	+122.1%	+435.0%
Aktis Oncology	Oncology	225Ac-AKY-1189 (Nectin-4-targeting radioligand; solid tumors)	Phase 1b	08 Jan 2026	$18.00	$365.4M	~$945M	+24.4%	+25.7%

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Methodology

"Proceeds" reflects IPO gross proceeds and, where disclosed and completed, includes the full exercise of the underwriters' option. It excludes concurrent private placements unless explicitly noted. "MCAP at IPO" is approximate market capitalisation at listing. "vs. offer" is based on share prices as of the 17 June 2026 latest available refresh and will move with the market. Rows are sorted in reverse chronological order by pricing date.