Lycia Therapeutics Announces Closing of Upsized Initial Public Offering and Full Exercise of Underwriters’ Option to Purchase Additional Shares

SOUTH SAN FRANCISCO, Calif., Oct. 26, 2026 (GLOBE NEWSWIRE) -- Lycia Therapeutics, Inc. (“Lycia”) (Nasdaq: LYCA), a clinical-stage biotechnology company focused on the discovery and development of novel therapeutics designed to degrade disease-causing extracellular proteins, with an initial focus on addressing autoimmune, inflammatory and allergic diseases, today announced the closing of its upsized initial public offering of 20,286,000 shares of its common stock, which includes the exercise in full by the underwriters of their option to purchase 2,646,000 additional shares, at the initial public offering price of $18.00 per share. The aggregate gross proceeds to Lycia from the initial public offering, before deducting underwriting discounts and commissions and other offering expenses, were approximately $365.1 million. All of the shares of common stock were offered by Lycia. Lycia’s common stock began trading on the Nasdaq Global Select Market on October 23, 2026, under the symbol “LYCA.”