Kardigan Inc. priced an upsized $400 million biopharma IPO as it targets cardiovascular diseases through three mid-stage drug candidates. The company sold 25 million shares at $16 per share at the top end of its proposed range, according to the listing update. Kardigan said the proceeds will support programs aimed at getting at root causes of heart disease, with all three candidates expected to report key data in 2027 and potentially pave the way for Phase 3 testing. The company’s IPO effort followed a broader burst of biopharma listings onto Nasdaq during 2026. The deal reinforces appetite for cardiovascular franchises when clinical differentiation and mechanistic rationale are clear, and it also highlights how market timing has improved for certain growth-stage biotechs. For investors, the availability of larger IPO proceeds can reduce near-term financing risk as companies bridge from mid-stage readouts toward pivotal trials.