Latigo Biotherapeutics (Ticker: LTGO US) is a U.S. biotechnology company developing non-opioid treatments for short-term and long-term pain. Its medicines are designed to block pain signals in the body without acting on the brain, which may reduce the addiction risks linked to opioid painkillers.

The company’s lead drug, LTG-001, is being developed for moderate to severe acute pain, including pain after surgery, and is expected to begin Phase 3 testing in the second half of 2026. A second drug, LTG-321, is being tested for chronic pain caused by conditions such as knee osteoarthritis.

Latigo plans to list on Nasdaq on August 7, 2026. The company is offering 16 million shares at $16.00 to $18.00 each and aims to raise approximately $272 million at the midpoint of the range. The IPO implies an estimated market value of around $1.0 billion. Goldman Sachs, Jefferies, Leerink Partners and Guggenheim Securities are managing the offering. Latigo was founded in 2018 and has not yet generated product revenue.