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Kardigan, Inc.
KARDPro trackingKardigan, Inc. · Nasdaq · latest filing 2026-09-30
One-minute decisionBASIC RESEARCHSource completeness · 97%
IPO research
Kardigan is a well-funded but pre-revenue cardiovascular biotech advancing three mid-to-late-stage candidates in parallel. The $400 million IPO extends its stated runway into 2028 and funds defined clinical milestones, but the investment remains highly dependent on unapproved assets, costly trials, licensed rights and future financing. The $1.43 billion offer-price equity value and 55.4% tangible-book dilution price in substantial execution expectations.
The final prospectus dated June 17, 2026 priced 25,000,000 primary shares at $16, with a 30-day option for 3,750,000 more. It states Nasdaq approval under KARD and expected delivery around June 22, 2026; those historical statements do not independently confirm current trading or settlement.
Capital destination
Awaiting verification424B4 · 2026-06-18
Share-type percentages are not net-proceeds percentages. Amounts retain their stated gross/net basis; do not add unlike bases.
Check the source · 424B4 ↗Capital destination
Awaiting verification424B4 · 2026-06-18
Share-type percentages are not net-proceeds percentages. Amounts retain their stated gross/net basis; do not add unlike bases.
Check the source · 424B4 ↗BOOKRUNNERS / LEAD UNDERWRITERSBookrunners / lead underwriters
NOT YET DISCLOSEDNames not yet published
Fully diluted valuation bridge
| Status | Reference |
|---|---|
| Awaiting verification | Source ↗ |
Basic-price scenario
A verified single offer price and basic post-offer share count are required. This is a data gap, not a paid lock.
Check the source · 424B4 ↗Holder data awaits verification
Ownership remains concentrated among ARCH, HRTG, Perceptive and management, without a single disclosed majority controller. · 2026-06-18
Ownership remains concentrated among ARCH, HRTG, Perceptive and management, without a single disclosed majority controller.
One disclosed holder; not a complete ownership distribution.Check the source · 424B4 ↗Conditional lock-up timeline
| Status | Reference |
|---|---|
| Awaiting verification | Source ↗ |
Financial quality and runway
| Status | Reference |
|---|---|
| Awaiting verification | Source ↗ |
Latest filing update
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SEC filing history
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No product is approved and no revenue has been generated; commercial revenue is not expected for at least several years, if ever.
- Potential impact
- Awaiting verification
- Monitor
- Next research checkpoint: verify completed Nasdaq trading and closing, option exercise, 2026 trial enrollment updates, and the stated first-half 2027 Danicamtiv/Tonlamarsen and 2027 Ataciguat readouts.