Latigo Biotherapeutics priced an IPO Aug. 7, raising $345.6 million to fund development of a non-opioid pain pipeline targeting Nav1.8. The offering reflects continued appetite for mechanism-led, commercially large pain franchises as investors look beyond opioids. Latigo increased its share count and priced at the top end of its proposed range, using proceeds to advance programs designed to modulate peripheral pain signaling without the addictive and respiratory risks associated with opioid-class drugs. The IPO adds momentum to a push toward ion-channel approaches and upsized listings in 2026’s biotech market.