(Reuters) -LB Pharmaceuticals raised $285 million in its U.S. initial public offering, the biotech firm said on Wednesday, marking the first sizable biotech IPO since February.

The New York-based firm sold 19 million shares at $15 each, within its marketed range of $14 to $16 apiece. The IPO valued LB at $301.5 million.

Companies ranging from crypto to consumer are poised to list their shares on U.S. exchanges this week as the U.S. IPO market makes a resurgent comeback, with investors shrugging off tariff concerns that scuttled all dealmaking in April.

LB’s debut would mark a rare listing by a biotech in an IPO market dominated by high-growth, tech-focused companies.

Weight-loss drug developer Aardvark Therapeutics was the last notable biotech to raise more than $50 million in 2025. It

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