Latigo Biotherapeutics priced an IPO to raise about $345.6 million for a non-opioid pain pipeline built on Nav1.8 channel biology. The offering expands a class of therapies intended to treat pain without engaging opioid pathways. The company’s public funding arrives amid an IPO cycle that has recently featured larger-than-planned biotech offerings. Latigo’s capital is positioned to advance multiple programs targeting Nav1.8, a neuronal sodium channel implicated in pain signaling. Investors are effectively underwriting a bet that ion-channel selectivity can deliver clinically meaningful analgesia with differentiated tolerability and reduced misuse risk compared with opioids.