Daily Digest — October 16, 2026

Hit the market today

Iambic Therapeutics (IAM) — Nasdaq

IAM · Priced 424B4 · $150 million · Nasdaq

Iambic is an AI-native drug discovery company that uses a proprietary computational platform to design small-molecule oncology candidates. It priced at $16.00 per share, raising $150 million gross, with an anchor investor indicating $60 million of that. Founded in 2019 and having raised $461.8 million since inception, the company enters the market with pro forma as-adjusted cash of $409.4 million — a balance sheet the filing projects will sustain operations through 2028.

The lead asset, IAM1363, is a PI3Kα inhibitor in Phase 1, with 68 subjects dosed at the 960 mg go-forward monotherapy dose and four active combination cohorts running. Four Grade 3 adverse events have been reported at that dose. Two additional pipeline programs round out a three-program portfolio. The AI platform is what the prospectus leads with; clinical data is what will determine whether the valuation holds. Full analysis at the link above.

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Amaero Inc. (AMRO) — Nasdaq / ASX

AMRO · Priced 424B4 · $20 million · Nasdaq

Amaero atomizes refractory and titanium metal powders for aerospace and defense applications from a 100,000-square-foot Tennessee facility, with current production capacity of up to 720 metric tons annually. It raised $20 million gross at $4.25 per share; net proceeds to the issuer are $15.7 million, with $10 million earmarked for capital equipment.

The prospectus discloses that substantial going-concern doubt exists and will persist after the offering. The filing projects a cash runway only into 2027 — the same window in which a fourth atomizer commissioning and a capacity expansion to 920 metric tons are supposed to land. H1 2026 operating loss was $13.2 million on revenue of $7.4 million, with a gross loss of $3.1 million. Customer concentration is acute: the top three customers accounted for 84% of a backlog of $13.4 million across 18 customers. The raise is a bridge. Full analysis at the link above.

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Just filed

Cashlin — S-1

No ticker · Initial S-1 · filed to raise up to $1 million · exchange not yet set

Cashlin is a cash-flow and inventory forecasting platform targeting direct-to-consumer brands with annual revenues between $5 million and $15 million. The company filed to sell 10,000,000 shares at $0.10 per share, seeking up to $1 million gross, self-underwritten. The implied market cap at a fully subscribed offering is $2.5 million.

The filing's numbers tell a specific story about where this company stands. Founded in 2026, it has no employees, three customers, and $3,181 in cash at the balance sheet date. Total assets are $68,092, almost entirely a platform intangible acquired from the CEO via a $70,000 promissory note maturing in 2028. Contracted annual revenue from existing customers is $30,000; the filing states a minimum raise of $235,000 is needed for a 24-month operating runway. The offering is self-directed and has no underwriter, so how much of the stated ceiling actually closes is an open question.