Pain drugmaker Latigo outlines plans to go public
Latigo Biotherapeutics, a pain drug developer founded in 2018 by venture capital firm Westlake BioPartners, has filed to go public on the Nasdaq under the ticker 'LTGO'. The company focuses on non-opioid drugs that block sodium ion channels, with its lead candidate LTG-101 set to enter late-stage testing for moderate to severe acute pain by end of 2026. Latigo has raised approximately $322 million since inception and reported a $109 million net loss in 2025. It joins over half a dozen other biotech startups planning IPOs this month. The company faces competition from Eli Lilly, which recently acquired SiteOne Therapeutics, and Vertex Pharmaceuticals, which has an approved acute pain drug Journavx. Latigo argues there is room for multiple players in the non-opioid pain market, which sees 250 million annual prescriptions in the U.S.
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