As of September 27, 2026, City Therapeutics has filed to go public but has not confirmed a listing date. Endpoints News reported on September 25, 2026 that the biotech filed for a Nasdaq initial public offering under the ticker CTY, disclosing $172 million in cash and a Phase 1 trial for its Factor XI siRNA candidate, CITY-FXI. BioSpace, also reporting on September 25, 2026, said the filing was a Thursday SEC filing dated September 24, 2026, and named City Therapeutics part of its 2026 NextGen startup class, the same week ADARx Pharmaceuticals priced a $446.3 million upsized IPO. City Therapeutics was founded in 2023 by former Alnylam CEO John Maraganore, now co-founder and executive chairman, with Andy Orth as CEO; the company raised a $99.5 million Series B in June 2026, backed by ARCH Venture Partners and Regeneron Ventures, following a $135 million Series A in fall 2024, per BioSpace's June 8, 2026 report. Segmara does not sell, broker, or advise on City Therapeutics shares; track SEC EDGAR, the SEC's US-only filing database, and the company's own statements for pricing terms or a trading date.
Segmara is an independent research site. Segmara does not sell, broker, or arrange share purchases. Nothing here is investment advice.
Key points
A filing, not yet a listing
City Therapeutics filed for a Nasdaq IPO under the ticker CTY, Endpoints News reported on September 25, 2026, disclosing $172 million in cash and a Phase 1 trial for the company's Factor XI siRNA candidate, CITY-FXI. BioSpace, reporting the same day, said the filing was a Thursday SEC filing dated September 24, 2026.
BioSpace named City Therapeutics part of its own 2026 NextGen startup class and noted the filing landed the same week ADARx Pharmaceuticals priced a $446.3 million upsized IPO, which BioSpace described as biotech's third-largest IPO of 2026.
Who is behind City Therapeutics
City Therapeutics was founded in 2023 by John Maraganore, the former CEO of Alnylam Pharmaceuticals, who now serves as co-founder and executive chairman; Andy Orth is CEO, according to BioSpace's June 8, 2026 report.
That report covered a $99.5 million Series B raised in June 2026, backed by ARCH Venture Partners and Regeneron Ventures, which followed a $135 million Series A closed in fall 2024.
What is not yet confirmed
Neither Endpoints News nor BioSpace reported a share price range, an offering size, or a listing date; both describe a filing event dated September 24, 2026, not a completed or priced offering.
SEC EDGAR covers only US filings and is the direct source for confirmation of pricing terms or a trading date, alongside City Therapeutics' own statements. Segmara does not sell, broker, or advise on City Therapeutics shares.
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When Will City Therapeutics IPO? It Just Filed With $172M Cash
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What counts as a listing step
For an IPO, the primary record is a registration statement filed with the securities regulator of the listing market, such as an S-1 or F-1 on SEC EDGAR for a US listing. Funding rounds, valuations and secondary-market prices are context, not listing steps.
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How a company reaches a US listing
The SEC filing trail
DraftThe company can first submit a draft registration statement (DRS) for confidential SEC review.
S-1 or F-1The registration statement goes public on SEC EDGAR: Form S-1, or Form F-1 for many foreign companies. A company that used a draft must file publicly at least 15 days before its roadshow.
AmendmentsS-1/A or F-1/A amendments answer SEC comments, and one of them adds the expected price range.
PricingOnce the SEC declares the registration effective, the company sets the price with its underwriters and files the final prospectus, usually a 424B4.
First tradeThe shares start trading on the exchange named in the prospectus, such as Nasdaq or the NYSE.
Segmara Pro checks SEC EDGAR for City Therapeutics filings every weekday and posts an alert in the members forum when one of these public filings appears. You can also check yourself with EDGAR full-text search.
Endpoints News reported on September 25, 2026 that City Therapeutics filed for a Nasdaq IPO under the ticker CTY, disclosing $172 million in cash and a Phase 1 trial for its Factor XI siRNA candidate, CITY-FXI.
BioSpace reported the same day, September 25, 2026, that the filing came via a Thursday SEC filing dated September 24, 2026, and named City Therapeutics part of its 2026 NextGen startup class, the same week ADARx Pharmaceuticals priced a $446.3 million upsized IPO.
City Therapeutics was founded in 2023 by former Alnylam CEO John Maraganore, now co-founder and executive chairman, with Andy Orth as CEO; it raised a $99.5 million Series B in June 2026 from ARCH Venture Partners and Regeneron Ventures, following a $135 million Series A in fall 2024, per BioSpace's June 8, 2026 report.
Risk notes
Rumor risk: unofficial dates, valuations, or funding details circulating on social media or forums are frequently wrong or outdated and should not be treated as confirmation of anything.
Illiquidity risk: any private-market interest, indicative marks, or pre-IPO share arrangements in a company that has not listed can be difficult to exit and may not reflect a tradable price.
Timing risk: a company can pause, restart, or abandon IPO preparation at any stage, including after a confidential or public filing, so no step before pricing guarantees a listing.
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Has City Therapeutics confirmed an IPO date?
No. As of September 27, 2026, City Therapeutics has filed to go public on Nasdaq under the ticker CTY, per Endpoints News and BioSpace reporting from September 25, 2026 on a Thursday SEC filing dated September 24, 2026, but no pricing date or share range appears in that reporting.
What exchange and regulator is City Therapeutics filing with?
City Therapeutics filed with the U.S. Securities and Exchange Commission for a listing on the Nasdaq exchange, under the ticker symbol CTY, according to Endpoints News (September 25, 2026). SEC EDGAR covers only US filings and is the direct source to track the registration as it becomes public.
How is City Therapeutics funded so far?
The company raised a $135 million Series A in fall 2024 and a $99.5 million Series B in June 2026, the latter backed by ARCH Venture Partners and Regeneron Ventures, according to BioSpace's June 8, 2026 report. The IPO filing separately disclosed $172 million in cash on hand, per Endpoints News.
Can I buy City Therapeutics shares before the IPO?
Not through Segmara. Segmara does not sell, broker, or arrange purchases of City Therapeutics shares, before or after any IPO.
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Segmara is an independent research site. Segmara does not sell, broker, or arrange share purchases.