Seaport Therapeutics Inc. (NASDAQ: SPTX) announced the pricing of its upsized initial public offering of 14,160,000 shares of common stock at $18.00 per share, according to a company statement. The pricing was set at the top of the target range.

The clinical-stage therapeutics company expects to receive gross proceeds of $254.9 million from the offering before deducting underwriting discounts, commissions and offering expenses. Seaport Therapeutics granted underwriters a 30-day option to purchase an additional 2,124,000 shares at the IPO price, less underwriting discounts and commissions.

The shares are expected to begin trading on the Nasdaq Global Select Market on May 1, 2026, under the ticker symbol "SPTX." The offering is expected to close on May 4, 2026, subject to customary closing conditions.

Goldman Sachs & Co. LLC, J.P. Morgan, Leerink Partners, Citigroup, and Stifel are serving as joint book-running managers for the offering.

Seaport Therapeutics focuses on developing neuropsychiatric medicines for patients with depression, anxiety and other neuropsychiatric disorders. The company uses its proprietary Glyph platform to develop oral therapies that address limitations such as high first-pass metabolism, low bioavailability and side effects associated with clinically validated mechanisms.

A registration statement for the offering was filed with the Securities and Exchange Commission and declared effective on April 30, 2026.