Two more biopharma companies—the hair-growth specialist Veradermics and cancer-focused Eikon Therapeutics—have announced their IPOs this year. Meanwhile, Aktis Oncology began trading publicly earlier this month.
The 2026 IPO class welcomed two new members when California-based SpyGlass Pharma and New York’s AgomAb Therapeutics launched their respective bids last week to become publicly traded companies.
Neither biotech has specified how much money it expects to make from its initial public offering. But once their offerings are over, AgomAb will start trading on the Nasdaq Global Market under the ticker AGMB, while SpyGlass is looking to debut on the Nasdaq Global Select Market—a more exclusive listing with more stringent requirements—with the symbol SGP.
Of the two Nasdaq newcomers, SpyGlass is farther along in the clinic. Its lead asset, the bimatoprost drug pad-intraocular lens system, is in Phase III development to reduce intraocular pressure in patients with ocular hypertension or open-angle glaucoma, according to its SEC document. The candidate is designed to deliver sustained doses of the prostaglandin analog bimatoprost after being implanted during routine cataract surgery.
SpyGlass launched two registrational studies for the asset in July 2025, each targeting around 400 participants, the company wrote in its prospectus. Enrollment is set to complete in 2027, with an approval application tentatively set for 2028. Funds raised from the IPO will mainly help the biotech complete these Phase III trials and, if approved, support the initial launch of its bimatoprost candidate.
Meanwhile, AgomAb’s most mature asset is AGMB-129, also known as ontunisertib, an orally available small-molecule blocker of the ALK5 protein, being studied for fibrostenosing Crohn’s disease. This condition is a severe complication of Crohn’s that, according to the biotech’s regulatory filing, is “associated with significant morbidity.”
Designed to act in the gastrointestinal tract, ontunisertib is currently being trialed in the Phase IIa STENOVA study. STENOVA’s 48-week open-label extension phase is ongoing, with data expected in the back half of this year. AgomAb is also preparing to start a Phase IIb study of the drug, set to start later this year.
Two other biopharma companies have launched their IPOs so far this year, with hair growth specialist Veradermics and cancer-focused Eikon Therapeutics announcing their respective offerings earlier this month. Ahead of them, Aktis Oncology started trading publicly on Jan. 9, counting $318 million in proceeds. The radiopharma player announced its Nasdaq bid last month.
