←RETURN TO 2026 IPO RADAR DECK (135 OFFERINGS)COHORT STANDING: #35 of 135
Verified SEC Filing/Calendar Year 2026
NASDAQHealth Care
$CTY
RANGE-BOUND (-50% to +50%)
City Therapeutics, Inc.
OFFER PRICE$18.00
CURRENT PRICE
$21.08
CUMULATIVE RETURN
+24.40%
PRICING DATE: 10/16/26SEC FILING SNAPSHOT
SECTION 01 // FORENSIC TEARDOWN
The Seagull Executive Verdict
SURVIVAL RATING: WINNER
WHAT THE BUSINESS DOES
Engineers synthetic RNA molecules designed to turn off specific genetic instructions in the liver to prevent blood clots. Generates zero product revenue.
THE WALL STREET PITCH
Pioneer in next-generation extrahepatic RNAi delivery with best-in-class pipeline potential.
THE COLD REALITY
Preclinical cash-burner requiring years of clinical trials and multiple future dilutive equity raises before commercialization is feasible.
SECTION 02 // CAPITAL ALLOCATION
Capital Formation & Float Scarcity
FLAG: TREASURY GROWTH
Gross Proceeds
$200.0M
Cash extracted from market
Post-Money Value
$1.1B
Total company valuation
Public Float %
18.5%
Shares available to public
Secondary Share %
0%
Insider cash extraction
CAPITAL USE ANALYSIS
Proceeds directed to balance sheet and operations.
SECTION 03 // SUPPLY SHOCK AUDITOR
Insider Lock-Up Expiration
VC DUMP RISK: CRITICAL
Expiration Calendar Date
2027-04-13
155 DAYS REMAINING
Supply Shock Multiplier
4.5x
Float expansion ratio upon unlock
Lockup Duration
180 Days
Contractual restriction window
RESTRICTED INSTITUTIONAL HOLDERS & PRE-IPO INSIDERS
ARCH Venture PartnersvenBio
Insiders hold locked shares subject to release on 2027-04-13.
SECTION 04 // SYNDICATE TELEMETRY
Underwriter Syndicate & Fee Extraction
SPREAD: 7.00%
Gross Underwriting Spread
7.00%
Standard Wall Street fee cut
Estimated Syndicate Take
$14.0M
Total fees stripped from deal
Fee Per Public Share
$1.26
Direct cut per share printed
LEAD BOOKRUNNERS & JOINT MANAGERS
Goldman SachsJefferiesStifelOppenheimerBarclaysCitiWells Fargo Securities
SECTION 05 // COHORT BENCHMARK
Sector Peer & Cohort Telemetry
RANK: #35 of 135
2026 Cohort Standing
#35 of 135
Out of 135 total 2026 IPO offerings
Sector Median Return
+21.64%
Health Care sector midpoint
Sector Win Rate
78%
% of peer IPOs trading in profit
PERFORMANCE VS PEERS
City Therapeutics, Inc. is currently trading above the Health Care sector median of 21.64%. Across the entire 2026 calendar year cohort, only 78% of Health Care offerings have sustained a positive return above their initial offer price.