Core Insights - Eikon Therapeutics, Inc. reported significant progress in 2025, including a successful IPO that strengthened its financial position and enabled advancement of multiple clinical programs [2][7]. Pipeline Updates - EIK1001, a dual-agonist for Toll-like receptors 7 and 8, completed enrollment in the TeLuRide-005 Phase 2 study for non-small cell lung cancer, with data expected in the second half of 2026 [3][4]. - EIK1003 and EIK1004, next-generation PARP1 inhibitors, are under evaluation in various trials, with EIK1003 expected to initiate a new cohort in the second half of 2026 [5]. - EIK1005, a WRN helicase inhibitor, has shown in vitro activity in MSI-high cancer cells and is currently in a Phase 1/2 trial [4][5]. Financial Results - As of December 31, 2025, Eikon had cash, cash equivalents, and marketable securities totaling $336.0 million, bolstered by an IPO that raised $381.2 million in February 2026 [7][17]. - Research and Development (R&D) expenses for Q4 2025 were $65.2 million, a 21% increase from Q4 2024, driven by clinical trial activities and increased operational costs [8]. - General and Administrative (G&A) expenses for Q4 2025 were $17.9 million, a 29% increase from the previous year, primarily due to higher compensation costs and depreciation expenses [9]. - The net loss attributable to common stockholders for Q4 2025 was $79.7 million, compared to $64.9 million in the prior year, with a total net loss of $333.6 million for the full year 2025 [10][16].

Core Viewpoint - The U.S. IPO market remains active, with several companies going public on February 5, 2026, raising approximately $2.534 billion in total [1]. Group 1: Bob's Discount Furniture (BOBS) - Bob's Discount Furniture opened at $17 per share, matching its offering price, and closed at $17.02, giving it a total market capitalization of $2.219 billion [2]. - The company issued 19.45 million shares at an offering price of $17, raising $331 million, with plans to use the funds for debt repayment [3]. - Bob's Discount Furniture specializes in high-quality, cost-effective home products, leveraging a combination of low prices, efficient supply chains, and omnichannel services to create a competitive advantage in the home retail market. For the first nine months of 2025, it reported revenues of $1.719 billion and a net profit of $80.7 million [3]. Group 2: Forgent Power Solutions (FPS) - Forgent Power Solutions opened at $26 per share, down 3.7% from its offering price, but closed at $29, reflecting a 7.41% increase [4]. - The company issued 56 million shares at an offering price of $27, raising $1.512 billion. It provides secure and efficient power distribution solutions for critical infrastructure, including transformers and switchgear. For the three months ending September 30, 2025, it reported revenues of $283 million and a net profit of $15.56 million [6]. Group 3: Eikon Therapeutics (EIKN) - Eikon Therapeutics opened at $17.05 per share, down 5.28% from its offering price, and closed at $15, a decline of 16.67%, with a total market capitalization of $757 million [7]. - The company issued 21.78 million shares at an offering price of $18, raising $381 million, with plans to use the funds for advancing key clinical trials and early-stage research and operations for its innovative therapies targeting unmet medical needs in oncology and other diseases. It reported a loss of $245 million for the first nine months of 2025 [10]. Group 4: SPACs - Hennessy Capital Investment VIII and Cantor Equity Partners VI, both special purpose acquisition companies (SPACs), raised $210 million and $100 million, respectively, in their IPOs [10]. - Hennessy Capital focuses on industrial innovation and energy transition, while Cantor Equity Partners targets companies in financial services, digital assets, healthcare, real estate services, and technology [10].

Core Viewpoint - Eikon Therapeutics (EIKN.US) debuted on NASDAQ with an opening drop of over 5%, trading at $17.05, below its IPO price of $18 [1] Company Overview - Eikon Therapeutics was founded in 2019 by Nobel Prize winners Eric Betzig, Xavier Darzacq, Luke Lavis, and Robert Tjian [1] - The company is focused on developing multiple experimental cancer therapies [1] Clinical Development - The most advanced candidate drug, EIK1001, is undergoing a mid-to-late stage clinical trial for skin cancer in collaboration with Merck's (MRK.US) Keytruda [1] - Interim analysis data for this study is expected to be released in the second half of 2026 [1]

Core Viewpoint - Eikon Therapeutics has made its debut on NASDAQ with an opening drop of over 5%, trading at $17.05, below its IPO price of $18 [1] Company Overview - Eikon Therapeutics was founded in 2019 by Nobel Prize winners Eric Betzig, Xavier Darzacq, Luke Lavis, and Robert Tjian [1] - The company is focused on developing multiple experimental cancer therapies [1] Clinical Development - The most advanced candidate drug, EIK1001, is undergoing a mid-to-late stage clinical trial for skin cancer in collaboration with Merck's Keytruda [1] - Interim analysis data for this study is expected to be released in the second half of 2026 [1]

Group 1 - Eikon Therapeutics raised $381.2 million in its IPO by issuing approximately 21.2 million shares at a price of $18 per share, which is at the upper end of its target range of $16 to $18 [1][2] - The IPO market in the U.S. is showing signs of recovery in 2026, following a slowdown due to a government shutdown in October last year that delayed many companies' listing plans [1] - Eikon Therapeutics was founded in 2019 by Nobel laureates and is currently developing multiple experimental cancer therapies, with its lead candidate EIK1001 undergoing mid-to-late stage clinical trials for skin cancer in collaboration with Merck's Keytruda [1] Group 2 - Eikon Therapeutics' stock will begin trading on Nasdaq under the ticker symbol "EIKN" [2] - The underwriters for the IPO include major financial institutions such as JPMorgan, Morgan Stanley, Bank of America Securities, Cantor, and Mizuho Securities [2]

Group 1 - Eikon Therapeutics raised $381.2 million in its IPO by issuing approximately 21.2 million shares at a price of $18 per share, which is at the upper limit of its target range of $16 to $18 [1] - The IPO market in the U.S. is showing signs of recovery in 2026, following a slowdown due to a government shutdown in October last year that delayed many companies' listing plans [1] - The company was founded in 2019 by Nobel Prize winners Eric Betzig, Xavier Darzacq, Luke Lavis, and Robert Tjian, and is currently developing multiple experimental cancer therapies [1] Group 2 - Eikon Therapeutics' stock will begin trading on Nasdaq under the ticker symbol "EIKN" [2] - The underwriters for the IPO include major financial institutions such as JPMorgan, Morgan Stanley, Bank of America Securities, Cantor, and Mizuho Securities [2] Group 3 - The company's lead candidate drug, EIK1001, is undergoing a late-stage clinical trial in combination with Merck's Keytruda for skin cancer, with interim analysis data expected to be released in the second half of 2026 [1]

Group 1: Recent IPOs - Last week, 15 new stocks were listed, including one direct listing company, Public Policy Holding (PPHC), which raised $50.84 million by issuing 4.15 million shares at $12.25 per share [1] - York Space System (YSS) raised $629 million by issuing 18.5 million shares at $34 per share [1] - Picpay (PICS) raised $434 million by issuing 22.86 million shares at $19 per share [1] - Ethos Technologies (LIFE) raised $200 million by issuing 10.53 million shares at $19 per share [1] Group 2: Upcoming IPOs - Jaguar Uranium Corp. plans to list on NYSE MKT with the ticker JAGU on February 3, 2026, aiming to raise up to $30 million by issuing 6 million shares at $4 to $6 per share [3][5] - VeraDermics, Inc. plans to list on NYSE with the ticker MANE on February 4, 2026, aiming to raise up to $214 million by issuing 13.35 million shares at $14 to $16 per share [8] - Eikon Therapeutics, Inc. plans to list on NASDAQ with the ticker EIKN on February 5, 2026, aiming to raise up to $318 million by issuing 17.65 million shares at $16 to $18 per share [10] - Bob's Discount Furniture, Inc. plans to list on February 5, 2026, aiming to raise up to $370 million by issuing 19.45 million shares at $17 to $19 per share, with projected revenue of $1.719 billion and a net profit of $80.7 million for the first nine months of 2025 [14] - Forgent Power Solutions, Inc. plans to list on NYSE with the ticker FPS on February 5, 2026, aiming to raise up to $1.624 billion by issuing 56 million shares at $25 to $29 per share, with revenue of $283 million and a net profit of $15.56 million for the last three months ending September 30, 2025 [18] - Once Upon a Farm, PBC plans to list on February 6, 2026, aiming to raise up to $209 million by issuing 11 million shares at $17 to $19 per share, with revenue of $177 million and a net loss of $39.76 million for the first nine months of 2025 [22] - Liftoff Mobile, Inc. plans to list on NASDAQ with the ticker LFTO on February 6, 2026, aiming to raise up to $762 million by issuing 25.4 million shares at $26 to $30 per share, with revenue of $492 million and a net loss of $25.65 million for the first nine months of 2025 [25] - Agomab Therapeutics NV plans to raise up to $213 million by issuing 12.5 million shares at $15 to $17 per share, with no revenue and a loss of $45.15 million for the first nine months of 2025 [28]

Table of Contents As filed with the Securities and Exchange Commission on January 28, 2026. Registration No. 333-292633 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 EIKON THERAPEUTICS, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) AMENDMENT NO. 1 TO FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Delaware 2836 84-2807586 (Primary Standard Industrial Classification Code Number) 230 Harriet ...

Table of Contents As filed with the Securities and Exchange Commission on January 9, 2026. Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 EIKON THERAPEUTICS, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Delaware 2836 84-2807586 (Primary Standard Industrial Classification Code Number) (I.R.S. Employer Identification Numbe ...