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Nvidia-backed Iambic Therapeutics tumbles below IPO price

By Reuters News14:45 (UTC), 19 October 2026 Updated

** Shares of Iambic Therapeutics IAM.O, drug developer backed by AI giant Nvidia NVDA.O, tumble as much as 41% to $14.10 in their third session of trading on Mon

** IAM opened at $16.15 on Thurs after $150 mln IPO priced at $16, midpoint of the marketed range

** Stock finished up ~26% on Fri at $23.81 after rising to as high as $25

** Biotech IPOs have continued to get done even as market volatility and surging bond yields combine to dampen investor appetite for new listings

** Iambic is advancing a pipeline of drug candidates developed using its AI platform to treat solid tumors. It has partnerships with top pharma companies, including AbbVie ABBV.N and Takeda Pharmaceutical 4502.T

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