Latigo Biotherapeutics raises $397.4 million in IPO, appoints Naomi Lowy as SVP

Latigo Biotherapeutics, Inc. (Nasdaq: LTGO) completed an upsized initial public offering on September 3, 2026, raising gross proceeds of $397.4 million. The company exercised the full underwriters' option to purchase additional shares alongside its original offering plans. These funds, combined with existing cash balances, are expected to fund operations until at least 2029. In a related business update, Latigo reported positive results for onzotrigine (formerly LTG-001) in a clinical trial regarding moderate-to-severe acute pain following abdominoplasty surgery. Nima Farzan, the chief executive officer, stated that the firm has built a strong balance sheet and continues to advance its portfolio of innovative non-opioid pain medicines. The company also expanded its leadership team by appointing Naomi Lowy, M.D., as senior vice president of global regulatory affairs. Dr. Lowy served previously as deputy director of the FDA Division of Anesthesia, Addiction Medicine, and Pain Medicine.