---
title: 'Funding Daily Summary: What Happened on October 25, 2026'
headline: Lycia raises $317.5 million in IPO to fund three drug programs
description: Shares closed more than 66% above the offering price as Lycia mapped
  out spending on candidates for food allergy and Graves’ disease.
url: https://thebench.bio/news/funding/2026-10-25
topic: funding
date: '2026-10-25'
covers:
- '2026-10-25'
date_published: '2026-10-26T00:01:36Z'
date_modified: '2026-10-26T00:01:36Z'
tags:
- Funding
sources: 1
publisher: TheBench.Bio
---

# Funding Daily Summary: What Happened on October 25, 2026

**Lycia raises $317.5 million in IPO to fund three drug programs**

Shares closed more than 66% above the offering price as Lycia mapped out spending on candidates for food allergy and Graves’ disease.

## Today in brief

Lycia Therapeutics raised $317.5 million in an upsized Nasdaq IPO, giving it funds to advance three candidates toward Phase 2 trials. [1] The stock finished its first trading day at $30, more than 66% above the $18 offering price. [1]

## Lycia plans to advance three candidates

Lycia sold 17.64 million shares at $18 each, after increasing the offering by more than 2.9 million shares. [1] The company plans to allocate $80 million to LCA-0061, $70 million to LCA-0062 and $90 million to LCA-0321. [1]

LCA-0061 is in Phase 1 testing for food allergy and is designed to degrade immunoglobulin E (IgE), an antibody involved in allergic reactions. [1] In preliminary Phase 1 results among participants with elevated IgE, Lycia reported an average maximum reduction of 96% from baseline. Most participants maintained reductions above 95% 28 days after dosing. [1] Lycia expects to report additional results in 2027. [1]

Lycia is preparing LCA-0062 for an investigational new drug application and plans to start a Phase 1 study in 2027. Preliminary results may come in the second half of that year. [1] LCA-0321 is in a Phase 1 trial for Graves’ disease, with preliminary results expected in 2027. [1] Lycia estimates its IPO proceeds will support operations into the second half of 2029. [1]

## The day in numbers

- **$317.5 million**: Lycia’s IPO proceeds. [1]
- **$30**: Lycia’s first-day closing share price, more than 66% above the $18 offering price. [1]
- **96%**: Average maximum IgE reduction from baseline in preliminary Phase 1 results for LCA-0061. [1]
- **Second half of 2029**: Period through which Lycia estimates its capital can support operations. [1]

## Also published

- [StockWatch: Investment Banker Talks U.S.-Chinese Deals, IPOs, and a Tough Climate for Startups Seeking Capital](<https://www.genengnews.com/topics/translational-medicine/stockwatch-investment-banker-talks-u-s-chinese-deals-ipos-and-a-tough-climate-for-startups-seeking-capital/>), GEN
- [After Lycia’s aftermarket surge, more biotechs look to NASDAQ: Finance Report](<https://www.biocentury.com/article/661308/after-lycia-s-aftermarket-surge-more-biotechs-look-to-nasdaq-finance-report?utm_source=bc_rss&utm_medium=rss>), BioCentury

## Sources

1. [Lycia Lands a $317M IPO for Inflammation Drugs Based on Nobel Prize-Winning Science](<https://medcitynews.com/2026/10/lycia-ipo-protein-degradation-food-allergy-immunology-inflammation-ige-lyca/>), MedCity News, 2026-10-25

---

TheBench.Bio wrote this from the reporting cited above, with a language model drafting and editing.

[1]: <https://medcitynews.com/2026/10/lycia-ipo-protein-degradation-food-allergy-immunology-inflammation-ige-lyca/>