Latigo Biotherapeutics targets non-opioid pain market with $247 M IPO

Latigo Biotherapeutics announced details of its planned initial public offering, aiming to raise roughly $247 million to advance its pipeline of non-opioid pain treatments.

The company intends to sell 16 million shares at $16-$18 each, which could generate up to $285 million if underwriters exercise their option for an extra 2.4 million shares. About half of the proceeds, $124.7 million, are earmarked for a phase 3 trial of LTG-001 in patients undergoing bunion surgery and for preparing its oral Nav1.8 inhibitor for market launch.

Latigo also plans to start additional late-stage studies later this year that will include a broader range of post-surgical and non-surgical patients, with topline results expected in the second half of 2027. An intravenous formulation of LTG-001 is also in development.