Changes in US stocks | Biotech company City Therapeutics (CTY.US) rose nearly 24% after entering the US stock market

The Zhitong Finance App learned that on Friday, City Therapeutics (CTY.US) entered the US stock market. As of press release, the stock had risen nearly 24% to $22.315. The IPO price is $18. City Therapeutics is a clinical-stage biotechnology company headquartered in Cambridge, Massachusetts, USA. It was founded in 2023 and focuses on developing next-generation RNA interference (RNAi) therapies to treat diseases with significant unmet medical needs by inhibiting specific disease-related protein expression. The company's core R&D pipeline includes CITY-FXI for preventing thromboembolic diseases, City-RBP4 for treating the hereditary retinal disease Stargardt disease, and CITY-TFR2 for chronic disease-related anemia. Among them, CITY-FXI has entered phase I clinical trials. The company was founded by senior experts in the field of RNAi. The co-founder and executive chairman John Maraganore was the CEO of AlnyLam, a pioneer in RNAi pharmaceuticals.