Eikon Therapeutics raises $381 million in IPO

Eikon Therapeutics, led by a former Merck executive, raised $381 million in its initial public offering, Bloomberg reported. The biotech company priced shares within the indicated range, valuing the firm at several billion dollars. Proceeds will fund clinical development of its oncology pipeline. The listing reflects renewed investor interest in healthcare IPOs despite selective risk appetite globally after years of muted issuance and cautious sentiment.