US Stock Movement | Biotechnology company Lycia Therapeutics (LYCA.US) debuts on the US stock market, shares surge over 32%

According to Zhishang 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, its share price rose over 32% to $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, LYTAC (Lysosome Targeting Chimeras), is based on research conducted by Nobel laureate Carolyn Bertozzi at Stanford University. Its main candidate drug, 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.