US Stock Market Movement | Nvidia-backed AI pharmaceutical company Iambic Therapeutics (IAM.US) debuts on Nasdaq, surging over 11% after opening
As of press time, the stock is up more than 11%, trading at $17.77.
According to Jinse Finance APP, on Thursday, AI pharmaceutical company Iambic Therapeutics (IAM.US), in which Nvidia holds shares, debuted on Nasdaq. As of the time of writing, the stock has risen over 11%, trading at $17.77, triggering the exchange's circuit breaker mechanism. The IPO price was $16. Iambic Therapeutics is a clinical-stage biotechnology company that combines proprietary AI models with automated high-throughput chemistry and biology to design small molecule drugs. The platform operates a closed-loop process: its models propose compound solutions, and a robotic laboratory synthesizes and tests hundreds of compounds for each project weekly, with the resulting data used to retrain the models. Its main candidate drug, IAM1363, is a selective, blood-brain barrier-penetrating HER2 inhibitor currently undergoing Phase 1/1b clinical trials targeting HER2-altered solid tumors, with the earliest possible registrational trials starting in 2027. Two other preclinical projects targeting KIF18A and CDK2/4 are planned to submit IND applications in the fourth quarter. So far, Iambic Therapeutics has generated revenue through partnerships with AbbVie (ABBV.US), Takeda Pharmaceutical (TAK.US), Bayer (BAYRY.US), and other companies.
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