Retension Pharmaceuticals prices IPO at $12 per share on Nasdaq

Retension Pharmaceuticals, Inc. (Nasdaq: RTSN), a clinical-stage biopharmaceutical company, priced its initial public offering of 3,750,000 shares of common stock at $12.00 per share, according to a press release issued Oct. 8, 2026.

The offering is expected to generate $45.0 million in gross proceeds before underwriting discounts, commissions, and other expenses. Retension has granted underwriters a 30-day option to purchase up to an additional 562,500 shares at the IPO price, less underwriting discounts and commissions.

Shares were expected to begin trading on the Nasdaq Capital Market on Oct. 9, 2026, under the ticker symbol "RTSN," with the offering expected to close on or about Oct. 13, 2026, subject to customary closing conditions.

The company said it intends to use net proceeds, along with existing cash, to complete a Phase 2b clinical trial of its lead candidate RTN-001 in uncontrolled hypertension and to prepare for a planned Phase 3 clinical trial of the same drug. Remaining funds are designated for general corporate purposes and operating expenses.

RTN-001 is a PDE5 inhibitor being developed under an exclusive worldwide license from Sanofi S.A. The drug has been studied across multiple clinical trials involving 265 enrolled subjects. In two Phase 2 pilot trials, RTN-001 showed placebo-adjusted reductions in systolic and diastolic blood pressure in hypertension patients.

Leerink Partners, Guggenheim Securities, and Oppenheimer & Co. are acting as joint bookrunning managers for the offering, with Titan Partners serving as lead manager.

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