Nvidia-Backed Iambic Therapeutics Prices IPO at $16 a Share

A $16 IPO price puts Nvidia-backed Iambic Therapeutics on track to begin Nasdaq trading Oct. 15, with the offering implying a market value of about $758 million for the AI drug developer. Iambic is offering about 9.38 million shares at the midpoint of a $15-to-$17 price range and plans to raise $150 million. The implied valuation is below the more than $800 million figure in Iambic's earlier Nasdaq plan . The fundraising is intended to advance three early-stage cancer drug candidates.

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