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Latigo Biotherapeutics (LTGO) reported second quarter 2026 results and recent pipeline and financing milestones, including completion of a $397.4 million IPO.
Gross IPO proceeds, together with existing cash, are expected to fund operations into 2029. As of June 30, 2026, cash and cash equivalents were $55.0 million. Q2 2026 research and development expenses were $21.2 million, down from $22.9 million a year earlier, while general and administrative expenses rose to $4.6 million from $2.8 million. Net loss was $25.8 million for both Q2 2026 and Q2 2025.
The New England Journal of Medicine published positive abdominoplasty data for lead NaV1.8 inhibitor onzotrigine, which met its primary endpoint and showed opioid-sparing potential. The company plans Phase 3 acute pain trials in 2H 2026 with topline data expected in 2H 2027, and is running a Phase 2 trial of LTG-321 in osteoarthritis and advancing next-generation candidate LTG-418.
Latigo Biotherapeutics (Nasdaq: LTGO) priced its upsized initial public offering of 19,200,000 common shares at $18.00 per share, for expected gross proceeds of $345.6 million before fees and expenses. All shares are being sold by Latigo.
Underwriters have a 30-day option to buy up to 2,880,000 additional shares at the public price, less discounts and commissions. Trading on the Nasdaq Global Select Market is expected to begin on August 7, 2026, with closing anticipated on August 10, 2026, subject to customary conditions.