US Stock Market Movement | Biotechnology Company Lycia Therapeutics (LYCA.US) Debuts on US Stock Market, Share Price Rises Over 32%

According to Zhitong Finance APP, on Friday, biotechnology company Lycia Therapeutics (LYCA.US), which focuses on treatments for allergies and autoimmune diseases, debuted on the US stock market. After opening, the share price surged more than 32%, reaching $23.9. The IPO price was $18. Lycia Therapeutics is dedicated to developing therapies aimed at degrading pathogenic extracellular proteins, with an initial focus on autoimmune, inflammatory, and allergic diseases. Its technology platform, named LYTAC (Lysosome Targeting Chimeras), is based on research by Nobel laureate Carolyn Bertozzi at Stanford University. Its lead drug candidate, LCA-0061, is designed to degrade immunoglobulin E (IgE) for the treatment of allergic diseases including food allergies, and is currently in phase I clinical trials.