Latigo Biotherapeutics disclosed IPO plans to fund development of its oral Nav1.8 inhibitor LTG-001, positioning the program for late-stage expansion in acute and broader post-surgical and non-surgical pain settings. The company said it plans to initiate a placebo-controlled Phase III trial in bunionectomy patients and an open-label Phase III safety study in a wider population in the second half of 2026. The filing also outlines a longer pipeline arc for LTG-321, a second Nav1.8 inhibitor being advanced for osteoarthritis after initial Phase II proof-of-concept work. Latigo framed its Nav1.8 approach as aiming to avoid central nervous system liabilities associated with some pain mechanisms, while targeting peripheral pain signaling. Latigo is preparing to compete commercially with Vertex’s FDA-approved Nav1.8 inhibitor suzetrigine (Journavx/Journax naming varies by source). The biotech reported accumulating about $321.5 million in total funding since 2018.