Kardigan targets up to $1.4 billion valuation in US IPO

Investing.com -- Kardigan said Thursday it aims for a valuation of up to $1.4 billion in its initial public offering in the United States.

The clinical-stage biotech company plans to raise up to $373.3 million by selling 23.3 million shares at a price range of $14 to $16 per share.

Kardigan develops precision medicines for cardiovascular diseases. The company is advancing three late-stage experimental therapies: danicamtiv for genetic dilated cardiomyopathy, ataciguat for calcific aortic valve stenosis, and tonlamarsen targeting hepatic angiotensinogen for blood pressure management in acute severe hypertension.

The Princeton, New Jersey-based company will list on the Nasdaq under the ticker symbol "KARD."

J.P. Morgan, Jefferies, Leerink Partners and TD Cowen are serving as underwriters for the offering.

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