Cardiovascular biotech Kardigan priced an upsized IPO to raise $400 million gross proceeds, following strong market demand for new listings. The company is offering 25 million shares at $16 per share, at the top end of its proposed range, and its debut on Nasdaq is slated for the week. Kardigan said the proceeds will fund three clinical-stage cardiovascular drug programs targeting underlying disease mechanisms, with data expected in 2027 that could support Phase 3 planning. The IPO adds to evidence that capital markets for biopharma remain active despite earlier caution in the sector’s public issuance cycle. The offering follows other 2026 biopharma IPOs, contributing to a year marked by larger financings clustered around high-interest therapeutic areas.