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

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. How the offering came together 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. The stock now trades under the ticker IAM. The opening wasn’t entirely smooth. Shares hit a volatility halt before settling into their gain. Based on its outstanding shares, the debut put Iambic’s market value somewhere between approximately $758 million and $877 million. The IPO also adds to a hefty private war chest. Iambic had raised more than $460 million in private funding since it was founded. What Iambic actually does The company uses proprietary AI systems called NeuralPLexer and Enchant. It pairs them with automated, high-throughput chemistry and biology l...