US Stock Movement | Biotechnology company City Therapeutics (CTY.US) debuts on the US stock market, rising nearly 24% after opening

According to Zhihui Finance APP, on Friday, City Therapeutics (CTY.US) debuted on the US stock market. As of press time, the stock had risen nearly 24% to $22.315. The IPO price was $18. City Therapeutics is a clinical-stage biotechnology company headquartered in Cambridge, Massachusetts, USA. Founded in 2023, it focuses on developing next-generation RNA interference (RNAi) therapies, treating diseases with significant unmet medical needs by inhibiting the expression of specific proteins associated with disease. The company's core research and development pipeline includes CITY-FXI for the prevention of thromboembolic diseases, CITY-RBP4 for treating the hereditary retinal disease Stargardt disease, and CITY-TFR2 targeting anemia related to chronic diseases, among which CITY-FXI has already entered Phase I clinical trials. The company was founded by experts in the RNAi field. John Maraganore, co-founder and executive chairman, previously served as CEO of RNAi pharmaceutical pioneer Alnylam.