Eikon Therapeutics priced an upsized Nasdaq offering that raised $381 million, marking the largest biotech IPO since 2024. The company said proceeds will prioritize clinical development of EIK1001 and advance multiple oncology programs acquired from Seven and Eight Biopharmaceuticals and Impact Therapeutics. Eikon’s leadership—former Merck executives including Roger Perlmutter—positioned the raise as fuel for phase 1/2 and phase 2/3 trials across melanoma, NSCLC, ovarian and brain cancers. The deal signals renewed investor appetite for well‑capitalized, late‑stage-focused biotechs after a slow IPO market.