Eikon Therapeutics priced an upsized IPO at $381 million, the largest biotech float since 2024, and said proceeds will prioritize development of EIK‑1001 and other oncology candidates. The company, backed by former Merck executives, will use funds to advance a TLR7/8 co‑agonist in Phase 2/3 combinations and PARP inhibitors in early trials, while continuing discovery programs based on super‑resolution microscopy technology. The offering follows a busy week for drug developer IPOs and underscores renewed public market receptivity to seasoned, capital‑intensive biotech stories. Market watchers will track how Eikon deploys proceeds across translational and clinical workstreams and whether the stock sustains valuation as clinical milestones arrive.