Lycia Therapeutics Announces Pricing of Upsized Initial Public Offering

SOUTH SAN FRANCISCO, Calif., Oct. 22, 2026 -- 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 pricing of its upsized initial public offering of 17,640,000 shares of its common stock at an initial public offering price of $18.00 per share. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses, are expected to be approximately $317.5 million. All shares of common stock to be sold in the offering will be sold by Lycia. In addition, Lycia has granted the underwriters a 30-day option to purchase up to an additional 2,646,000 shares of common stock at the initial public offering price, less underwriting discounts and commissions. Lycia’s common stock is expected to begin trading on the Nasdaq Global Select Market on October 23, 2026, under the symbol “LYCA.” The offering is expected to close on October 26, 2026, subject to the satisfaction of customary closing conditions.