City Therapeutics Announces Closing of $230.0 Million Upsized Initial Public Offering, Including Full Exercise of Underwriters’ Option to Purchase Additional Shares

The underwriters exercised their additional-share option in full, adding 1,666,666 shares to the offering.

Rhea-AI Summary

City Therapeutics (Nasdaq: CTY) closed its upsized initial public offering, raising approximately $230.0 million in gross proceeds before offering costs.

The company issued 12,777,777 common shares at $18.00 per share, including 1,666,666 shares issued through the underwriters’ full exercise of their additional-share option. All shares were offered by City. Gross proceeds are before underwriting discounts, commissions and offering expenses payable by the company. Trading on the Nasdaq Global Market began on October 16, 2026, under the symbol CTY.

1 point · 1 major

MixediHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

1 major · 2 points

How the balance works

Positive

• Major pointCompleted IPO raised approximately $230.0 million in gross proceeds before underwriting discounts, commissions and offering expenses. 20% of market cap

Negative

• Major point12,777,777 new common shares at $18.00 per share, including the fully exercised underwriters’ option, dilute existing holders.
• Minor pointUnderwriting discounts, commissions and offering expenses payable by City reduce proceeds retained.

News Explained

City’s completed IPO issued new common shares, increasing the share count and reducing existing holders’ percentage ownership, absent offsetting changes.

Key Figures

Shares offered: 12,777,777 shares Public offering price: $18.00 per share Gross proceeds: Approximately $230.0 million +1 more

Shares offered

12,777,777 shares

Upsized IPO closing

Public offering price

$18.00 per share

Common stock

Gross proceeds

Approximately $230.0 million

Before underwriting discounts, commissions and offering expenses

Underwriters’ option shares

1,666,666 shares

Option exercised in full

Key Terms

rna interference

1 terms

rna interference medical

"developing the next generation of RNA interference (RNAi) therapeutics"

RNA interference is a natural cellular process that acts like a mute switch to reduce or silence the activity of a specific gene by targeting its messenger RNA, the blueprint used to make a protein. For investors, it matters because therapies and diagnostics that harness this mechanism can precisely block disease-causing proteins, creating new drug classes with high potential reward but also scientific, manufacturing and regulatory risks that affect company value.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

CAMBRIDGE, Mass., Oct. 19, 2026 (GLOBE NEWSWIRE) -- City Therapeutics, Inc. (Nasdaq: CTY) (“City” or “City Therapeutics”), a clinical-stage biotechnology company developing the next generation of RNA interference (RNAi) therapeutics, today announced the closing of its upsized initial public offering of 12,777,777 shares of its common stock at a public offering price of $18.00 per share, which includes 1,666,666 shares issued upon the exercise in full by the underwriters of their option to purchase additional shares of common stock in the offering. The aggregate gross proceeds to City from the offering, including full exercise of the underwriters’ option to purchase additional shares, were approximately $230.0 million, before deducting underwriting discounts and commissions and offering expenses payable by City. All of the shares of common stock were offered by City.

City’s common stock began trading on the Nasdaq Global Market on October 16, 2026, under the ticker symbol “CTY.”

Goldman Sachs & Co. LLC, Jefferies and Stifel acted as joint book-running managers for the offering. Oppenheimer & Co. also acted as a joint book-running manager for the offering.

Registration statements relating to these securities have been filed with the U.S. Securities and Exchange Commission (the “SEC”) and became effective on October 15, 2026. Copies of the registration statements can be accessed through the SEC’s website at www.sec.gov. The offering was made only by means of a written prospectus. A copy of the final prospectus relating to the offering may be obtained from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at (866) 471-2526, by fax at (212) 902-9316, or by e-mail at prospectus-ny@ny.email.gs.com; Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at (877) 821-7388, or by e-mail at Prospectus_Department@Jefferies.com; Stifel, Nicolaus & Company, Incorporated, Attention: Prospectus Department, One Montgomery Street, Suite 3700, San Francisco, CA 94104, by telephone at (415) 364-2720, or by e-mail at syndprospectus@stifel.com; or Oppenheimer & Co. Inc., Attention: Syndicate Prospectus Department, 85 Broad Street, 26^th Floor, New York, NY 10004, by telephone at (212) 667-8055, or by e-mail at EquityProspectus@opco.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About City Therapeutics

City Therapeutics is a clinical-stage biotechnology company engineering the next generation of RNA interference (RNAi) therapeutics, with the aim of delivering meaningful and durable benefits for patients in need. City’s lead development programs are CITY-FXI for thromboembolic diseases, CITY-RBP4 for Stargardt disease and other retinal diseases, and CITY-TFR2 for anemia associated with chronic diseases. The City Platform is the engine behind every therapeutic the company develops and integrates deep expertise in trigger engineering, including proprietary cityRNA triggers designed to address limitations of conventional RNAi approaches, tissue-selective delivery, and genetics-driven target selection.

Media Contact:
Katie Engleman, 1AB
katie@1abmedia.com

Investor Contact:
Stephanie Ascher, Precision AQ
Stephanie.Ascher@precisionaq.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much did City Therapeutics raise in its IPO, and what was the share price?

City Therapeutics raised approximately $230.0 million in gross proceeds at $18.00 per share. The completed offering comprised 12,777,777 common shares, including 1,666,666 shares issued through the underwriters’ full exercise of their additional-share option. Proceeds are before underwriting discounts, commissions and offering expenses payable by City.

When did City Therapeutics stock begin trading, and what is its ticker?

City Therapeutics common stock began trading on the Nasdaq Global Market on October 16, 2026, under the ticker symbol CTY.