Kardigan’s $400M IPO is latest followed by aftermarket gains: Finance Report

With Kardigan gaining 38% Friday, all but one of the eight biopharmas that have gone public on NASDAQ since mid-April have added value in their first trading days.

The performance by Kardigan Inc. (NASDAQ:KARD), a developer of therapies for cardiovascular disorders, is the latest sign of health among new listings. Predictions that the IPO market would open up for biotechs in 2026 were slow to materialize, with an early spring lull following some tepid early performances, but the tide may be turning...