TRex Bio's IPO
Listed Oct 9, 2026 at $14 on Nasdaq as TRXB.
Breakaway does the work for you: insider and Congress trades, the chart, and the financials, in one score.
See it live, free until Wednesday morning. No account. No card. Then keep going with a free account.
What does TRex Bio do?
“We are a clinical-stage biopharmaceutical company focused on tissue Treg biology for the discovery and development of immunoregulatory medicines designed to restore immune balance and promote tissue repair to address unmet needs of patients with autoimmune and inflammatory diseases.”
| Fact | TRex Bio |
|---|---|
| Founded | 2018 |
| Incorporated | England and Wales, 2018 |
| Headquarters | South San Francisco, California |
| Employees | 60 full-time, as of August 31, 2026 |
| Website | trex.bio |
What is the offering?
Each figure names the filing it is from and that filing's date. The market cap is Breakaway's arithmetic from the prospectus's share count.
| Fact | TRex Bio |
|---|---|
| Shares offered | 8,333,334 |
| Offer price | $14 a share |
| Raised at that price | $117 million |
| Underwriters' discount | $8.2 million |
| Net proceeds the company expects | About $104 million |
| Underwriters' option | 1,250,000 more shares |
| Underwriters | J.P. Morgan, Evercore ISI, Cantor, Stifel, and Wedbush |
| Exchange | Nasdaq Global Select Market, as TRXB |
| Shares outstanding after | 27,445,682 |
| Market cap at the offer price | $384 million |
What the filing says about its money
| Fact | TRex Bio |
|---|---|
| Revenue | None from product sales yet |
| Net loss | $34.8 million, year to December 31, 2025 |
| Cash | $90.9 million, as of June 30, 2026 |
| Last preferred stock | Series B preferred |
| Raised before the IPO | $220 million in private financings |
What risks does TRex Bio name first?
- “We are a clinical-stage biopharmaceutical company with a limited operating history and no products approved for commercial sale; we have incurred substantial losses since our inception, and we anticipate incurring substantial and increasing losses for the foreseeable future.”
- “Even if this offering is successful, we will require substantial additional financing to achieve our goals, and failure to obtain additional capital when needed, or on acceptable terms, would cause us to delay, limit, reduce or terminate our product development efforts.”
- “Raising additional capital may cause dilution to our stockholders, including purchasers of common stock in this offering, imposing restrictions on our operations or require us to relinquish rights to our product candidates.”
Every date of TRex Bio's IPO
| What | Day |
|---|---|
| Registration filed | Sep 18, 2026 |
| Exchange registration filed | Oct 6, 2026 |
| Declared effective by the SEC | Oct 8, 2026 |
| Priced | Oct 8, 2026 |
| First trade | Oct 9, 2026 |
| Lock-up | Not read |
How did its first days trade?
From its daily bars, each close against its $14 offer price.
| Day | Open | Close | From the offer |
|---|---|---|---|
| Oct 9 | $13.50 | $14 | 0.0% |
| Oct 12 | $14.19 | $14.03 | +0.2% |
| Oct 13 | $13.95 | $13.60 | -2.9% |
| Oct 14 | $13.41 | $13.50 | -3.6% |
| Oct 15 | $13.50 | $14.16 | +1.1% |
The other IPOs expected
| Company | Price |
|---|---|
| $19 to $21 | |
| $15 to $17 | |
| $15 to $17 | |
| $7 | |
| $5 to $7 |
TRex Bio IPO questions
When is TRex Bio's IPO?
Listed Oct 9, 2026 at $14 on Nasdaq as TRXB.
What is TRex Bio's IPO price?
TRex Bio's IPO priced at $14 a share, per its final prospectus of Oct 9, 2026.
How many shares is TRex Bio selling?
8,333,334 shares, and the underwriters may buy 1,250,000 more, per its final prospectus (424B4).
Who are the underwriters?
J.P. Morgan, Evercore ISI, Cantor, Stifel, and Wedbush, as the prospectus's cover names them.
Does Breakaway rate TRex Bio?
Breakaway scores a new stock from its second trading day, ranked against every US stock it scores. For its first 21 sessions the page says New listing in place of the tier, and each check that needs more history waits for it.
Can Breakaway say where TRex Bio's price will go?
No. Breakaway does not say where a price will go. Every figure here is from the company's SEC filings, linked on each line.
We do the work for you. Every stock is scored and ranked, every 15 seconds while the market is open. Here it's 15 minutes behind. Pro members see it live.
Every new listing, ranked live, free. No account.
See all 16 new listings rankedSee it live, free until Wednesday morning. No account. No card. Then keep going with a free account.