TRex Bio, Inc. (Nasdaq: TRXB), a clinical-stage biotechnology company focused on tissue regulatory T cell biology for the discovery and development of immunoregulatory medicines, announced on October 8, 2026, that it priced its initial public offering. The company is offering 8,333,334 shares of its common stock at an initial public offering price of US$14.00 per share. Gross proceeds from the offering, before deducting underwriting discounts, commissions, and other expenses, are expected to be approximately US$116.7 million.
Offering Size and Pricing
All shares in the base offering are being sold by TRexBio, with no existing shareholders participating in the transaction. At the initial public offering price of US$14.00 per share, the base offering generates expected gross proceeds of approximately US$116.7 million before underwriting discounts and commissions. These proceeds will be available to the company after customary offering expenses are deducted.
Trading and Closing Timeline
TRexBio expects its common stock to begin trading on the Nasdaq Global Select Market on October 9, 2026, under the ticker symbol TRXB. The offering is expected to close on October 13, 2026, subject to the satisfaction of customary closing conditions. The short timeline between pricing and closing reflects standard practice for a U.S. initial public offering.
Underwriter Option
The underwriters have been granted a 30-day option to purchase up to an additional 1,250,000 shares of common stock at the initial public offering price, less underwriting discounts and commissions. This option may be used to cover overallotments, if any, and would increase the total number of shares sold by the company. If exercised in full, the option would provide TRexBio with additional capital beyond the base offering.
Underwriting Syndicate
J.P. Morgan, Evercore ISI, Cantor, and Stifel are acting as lead book-running managers for the offering, while Wedbush PacGrow is serving as book-running manager. These firms will support the marketing and distribution of the shares to institutional investors. Their involvement reflects the level of coordination typically required for a biotechnology initial public offering of this size.
Prospectus and Regulatory Filing
A registration statement on Form S-1, File No. 333-299018, was filed with the U.S. Securities and Exchange Commission and became effective on October 8, 2026. The offering is being made only by means of a prospectus, which provides detailed information about the company and the securities being offered. When available, copies of the final prospectus may be obtained from J.P. Morgan Securities LLC or Evercore Group L.L.C. using the contact information in the announcement.
Company Focus
TRexBio describes itself as a clinical-stage biotechnology company focused on tissue Treg biology for the discovery and development of immunoregulatory medicines. The company's research centers on regulatory T cells, which play an important role in controlling immune responses and inflammation. This scientific approach may support the development of new therapies for diseases driven by immune dysregulation.
Legal Disclaimer
The press release also states that the announcement does not constitute an offer to sell or a solicitation of an offer to buy the securities. No offer or sale will be made in any state or jurisdiction where such an offer, solicitation, or sale would be unlawful prior to registration or qualification. This standard disclaimer aligns with U.S. securities regulations and helps ensure compliance across different jurisdictions.
The initial public offering marks an important milestone for TRexBio as it enters the public market to support its research and development efforts. The expected gross proceeds of approximately US$116.7 million, before underwriting discounts and offering expenses, will provide capital for the company's clinical-stage programs. Investors and industry observers will be watching the stock's debut on the Nasdaq Global Select Market under the ticker symbol TRXB.