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UPCOMING IPO

Lycia Therapeutics, Inc. (LYCA)

This company has not started trading yet. The live 5-factor QL signal switches on automatically on its first session.

About Lycia Therapeutics, Inc.

We are 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. By leveraging our proprietary LYTAC (Lysosomal Targeting Chimera) platform, we have developed a pipeline of therapeutic candidates with the potential to provide deep and durable elimination of extracellular proteins that are inadequately addressed by currently available therapies.

From Lycia Therapeutics, Inc.'s Form S-1/A filed with the SEC on 2026-10-20. The issuer's own words — QuantLogix does not paraphrase it.

Industry
Biological Products, (No Diagnostic Substances)
Headquarters
South San Francisco, CA
Incorporated in
Delaware
Fiscal year ends
December 31

The offering

Ticker
LYCA
Exchange
XNAS
Expected listing
2026-10-22Thu
Expected price range
$16–$18
Deal size
$287M
gross proceeds
Shares offered
14,700,000
Share class
Healthcare

Use of proceeds

We currently intend to use the net proceeds from this offering, together with our existing cash, cash equivalents and marketable securities, to advance the clinical development of our IgE portfolio consisting of LCA-0061 and LCA-0062, to advance clinical development of our Graves' disease program, LCA‑0321, and to advance our other research and development activities; as well as for working capital and for other general corporate purposes.

From Lycia Therapeutics, Inc.'s Form S-1/A filed with the SEC on 2026-10-20. Quoted from the prospectus.

Financials, as filed

The audited financial statements for this issuer are in its Form S-1/A filed 2026-10-20. QuantLogix only publishes figures it can read directly from the filing.

QL Listing Score — the prospectus, scored

71/100
Strong · low confidence
The evolution of the private-company QL Score at the point of listing: four evidence pillars read deterministically from the registration statement — growth, revenue quality, technology and risk — weights frozen per version (v1.1.0), pillars with no evidence excluded and reweighted, never defaulted.
Growthno evidence — excluded
Revenue qualityno evidence — excluded
Technology75
technology-language density 12.6/10k words (lexical indicator, not a technical audit)
Risk70
Foundationno evidence — excluded
✓ No going-concern doubt✓ No material weakness disclosed✓ Single share class✓ No customer-concentration flag◆ Emerging growth company (reduced disclosure)

From Lycia Therapeutics, Inc.'s Form S-1/A filed with the SEC on 2026-10-20. Extraction is deterministic — the same filing always produces the same score; 637k characters of the document were scanned. Technology signals are lexical indicators, not a technical audit. Not investment advice; the debut itself will be this score's first grade.

Deal terms come from the public IPO calendar and change up to pricing — an expected date reads “to be announced” until the underwriters set it, and a range is not a final price. Implied market cap and float are arithmetic on those disclosed terms. Nothing on this page is a forecast or a recommendation.

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