On Friday, Latigo Biotherapeutics (LTGO.US) made its public market debut, with shares surging more than 14% to $20.53 at the time of writing.

The company is a developer of non-opioid pain medications targeting the Nav1.8 sodium channel. Its lead candidate, LTG-001, is an oral Nav1.8 inhibitor designed to treat moderate-to-severe acute pain, including postoperative pain.

This drug aims to deliver analgesic effects comparable to opioids while eliminating the risk of addiction. Since Nav1.8 is primarily expressed in peripheral pain-sensing neurons and does not act on the central nervous system, its inhibitors are not addictive.