Iambic Therapeutics jumps 16% in Nasdaq debut after $150M IPO

The Nvidia-backed AI drug discovery startup priced at the midpoint and climbed to $18.50 on its first day of trading Iambic Therapeutics just found out what public investors think of an AI-powered cancer drug developer. The answer, at least on day one, was enthusiastic. The San Diego biotech’s shares rose 16% to $18.50 in their Nasdaq debut on October 15, 2026. The move came after a $150 million initial public offering, and it lands at a moment when AI in drug discovery is one of the most closely watched bets in biotech. Iambic priced its IPO on October 14, 2026, at $16 per share. That figure sat right at the midpoint of its projected range. The company sold 9.375 million shares to raise the $150 million.

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