Eikon Therapeutics filed for an initial public offering, positioning itself as a bellwether for whether the biotech equity market can sustain a renewed IPO cadence. The filing reveals Eikon's ambitions to translate its discovery platform into drug candidates and will be watched for valuation, planned use of proceeds, and timing ahead of wider market signals at industry conferences. Market observers will parse Eikon’s filing for signs of investor risk tolerance toward platform-focused drug discovery firms.