TRex Bio priced its IPO at $14 per share, selling about 8.33 million shares for roughly $116.7 million in gross proceeds. Shares were set to trade on Nasdaq under ticker TRXB.
The South San Francisco biotech is developing medicines for autoimmune and inflammatory diseases by targeting regulatory T cells (Tregs), which help regulate immune responses and tissue inflammation. Its lead program, TRB-061, is in Phase 1, with initial data expected in 2027.
Retension Pharmaceuticals priced its upsized IPO at $12 per share, offering 3.75 million shares for $45 million in gross proceeds. Its Nasdaq ticker is RTSN.
Retension plans to use proceeds and existing cash to complete a Phase 2b trial of RTN-001 in uncontrolled hypertension and prepare for a planned Phase 3 trial. The drug is a PDE5 inhibitor intended to improve nitric-oxide signaling in central arteries.
Both offerings were expected to close around October 13, 2026. Underwriters also received options to buy additional shares, which could increase the companies’ proceeds.
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