Kardigan raises $460M in IPO on Nasdaq

Kardigan, Inc. (Nasdaq: KARD), a clinical-stage cardiovascular drug developer, closed its initial public offering of 28,750,000 shares of common stock at $16.00 per share, generating gross proceeds of $460 million before deducting underwriting discounts, commissions, and other expenses.

The total share count included the full exercise by underwriters of an option to purchase 3,750,000 additional shares. All shares were offered by Kardigan. The company's stock is listed on the Nasdaq Global Market under the ticker symbol "KARD."

J.P. Morgan Securities LLC, Jefferies LLC, Leerink Partners LLC, and TD Securities (USA) LLC served as underwriters for the offering. The registration statements became effective June 17, 2026.

Kardigan is based in South San Francisco, California, and Princeton, New Jersey, and focuses on developing treatments for cardiovascular diseases for which no approved therapies currently exist.

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