On June 19, Kardigan surged 42.28% in regular trading, trading at $23.5/share, with turnover of approximately $100 million. The stock made its Nasdaq debut after pricing its IPO at the top of its indicated range.

Kardigan priced its initial public offering of 25 million shares at $16 each, raising approximately $400 million in gross proceeds. The pricing came at the upper end of the previously disclosed $14–$16 range, and underwriters were granted a 30-day option to purchase up to an additional 3.75 million shares. The stock opened at $16.25 and climbed as high as $21 during the session before extending gains further. The upsized offering and strong first-day performance reflect robust investor appetite for the company's cardiovascular pipeline.

Kardigan is a clinical-stage precision therapeutics company with three late-stage assets — Danicamtiv, Ataciguat, and Tonlamarsen — all targeting cardiovascular indications with no currently approved therapies. The management team, including CEO Tassos Gianakakos, has deep ties to MyoKardia. Proceeds are earmarked for advancing clinical development programs.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)