Iambic Therapeutics shares closed at $18.91 in their Nasdaq debut, about 18 percent above the $16 IPO price.

The Nvidia-backed AI drugmaker raised $150 million, pricing at the midpoint of its $15 to $17 range.

It sold about 9.38 million shares, for a market value of roughly $896 million.

The stock trades under the ticker IAM on the Nasdaq Global Select Market.

Nvidia invested $25 million across two preferred rounds, the company’s filing shows.

ARK and Duquesne indicated interest in buying up to $60 million of shares combined.

Iambic reported a $50.1 million net loss for the six months ended June 30, 2026.

Read the full article for more details on the Iambic IPO.