Iambic Therapeutics filed an S-1 registration statement with the U.S. Securities and Exchange Commission for a Nasdaq Global Select Market listing under the ticker IAM. Renaissance Capital estimates the AI drug-discovery company could raise up to $100 million, though Iambic has not disclosed a share price range or offering size. Proceeds, together with existing cash, are intended to advance three cancer programs, led by IAM1363, an investigational oral HER2 inhibitor in Phase 1/1b testing for solid tumors including breast cancer. Iambic reported 2025 revenue of $9.4 million, up from $1.2 million in 2024, while its net loss widened to $77.3 million from $47.9 million. Founded in 2019 as Entos, the company has raised roughly $461.8 million through Sept. 18 from investors including Nvidia, Qatar-linked investors, Catalio, Nexus Ventures and Coatue. Iambic also announced a multi-year small-molecule discovery collaboration with AbbVie and maintains partnerships with Takeda Pharmaceutical Company Limited, Jazz Pharmaceuticals, Lundbeck, Revolution Medicines and Bayer. J.P. Morgan, Jefferies, BofA Securities and Citigroup are underwriting the offering.