Kardigan, a San Francisco-based cardiovascular biotech, pulled in $400 million in its initial public offering on June 17, 2026. The company priced shares at $16, the top of its $14 to $16 range, and upsized the deal beyond its original target of $320 million to $369 million.
Shares began trading on the Nasdaq under the ticker KARD.
Inside the deal
The $400 million haul adds to an already substantial war chest. Kardigan’s previous private funding rounds totaled nearly $570 million as of March 31, including a $300 million Series A and a $254 million Series B conducted in late 2025. Combined with the IPO proceeds, the company has now raised close to $1 billion in total capital.
Kardigan plans to deploy the capital across a pipeline of three clinical-stage assets focused on cardiomyopathies and heart failure, all licensed from major pharmaceutical partners including Sanofi, Ionis, and Bristol Myers Squibb.
