$CTY · CITY THERAPEUTICS, INC.
City Therapeutics, a clinical-stage RNAi biotech founded in July 2023, filed Amendment No. 1 to its S-1 for an IPO of 9,722,222 shares at an estimated $17.00–$19.00 per share, targeting a Nasdaq listing under "CTY." The company's lead candidate CITY-FXI (targeting Factor XI for thromboembolic diseases) reported Phase 1 SAD data showing 85% FXI knockdown at 150 mg; CITY-RBP4 and CITY-TFR2 are advancing toward Phase 1. City has never generated product revenue and has no approved products.
- Offering 9,722,222 shares at an estimated price range of $17.00 to $19.00 per share, with a 1,458,333-share underwriter option.
- Lead candidate CITY-FXI showed 85% FXI knockdown three weeks after a single 150 mg subcutaneous dose in Phase 1 SAD data.
- CITY-RBP4 filed for a Phase 1 trial in mid-2026 with initial data expected in mid-2027; targets Stargardt disease with no approved therapies
- CITY-TFR2 demonstrated ~90% TFR2 mRNA knockdown in NHPs; IIT in China expected to begin late 2026.
- The company has never generated product revenue, has no approved products, and will require substantial additional capital to complete any N
Price data unavailable.
A high-profile RNAi team — including Alnylam's founding CEO — is bringing a three-program pipeline to public markets with early but compelling Phase 1 data and no revenue, a classic biotech IPO bet.
City joins a growing cohort of RNAi-focused biotechs going public, following Alnylam's commercial validation of the modality. The leadership team's deep RNAi pedigree — having contributed to seven of eight FDA-approved RNAi therapeutics — distinguishes this IPO from earlier-stage platform companies.
All product candidates are early-stage: CITY-FXI is in Phase 1, CITY-RBP4 and CITY-TFR2 are preclinical/entering Phase 1. No clinical trial has been completed, no product has been approved, and the City Platform's novel technologies are unproven. The company has no product revenue and will need to
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