Stock Track | Eikon Therapeutics Plummets 7.5% Intraday as Stock Debuts Below IPO Price

Stock Track

02/06

Eikon Therapeutics (EIKN) shares plummeted 7.50% intraday on Thursday, marking a challenging start for the clinical-stage biopharmaceutical company's public market debut.

The decline came as the stock began trading on the Nasdaq Global Select Market, opening at $17.05 per share, significantly below its initial public offering price of $18. The company had upsized its IPO to 21.8 million shares, pricing at the top of its expected $16-$18 range, but investor demand appeared weaker than anticipated at the opening bell.

Founded in 2019 by Nobel laureates, Eikon Therapeutics is developing experimental cancer therapies, with its most advanced drug candidate EIK1001 undergoing mid-to-late stage clinical trials for skin cancer. Interim analysis data from this study is expected in the second half of 2026.

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