City Therapeutics priced a $200 million initial public offering to fund RNA interference programs aimed at moving beyond liver delivery. The company’s lead RNAi therapy portfolio and tissue-delivery platform are designed to support knockdown in extrahepatic targets, a key challenge for in vivo RNAi. City Therapeutics has highlighted prior partnerships spanning Bausch + Lomb in eye diseases and Biogen in central nervous system disorders, signaling industrial validation of its delivery approach. The IPO also positions City as part of a broader 2026 resurgence in biotech listings. The capital raise is likely to accelerate clinical testing and manufacturing scale-up as RNAi developers compete to prove durability, safety, and meaningful pharmacology outside the liver.