Retension (NASDAQ: RTSN), a clinical-stage biopharmaceutical company developing treatments for hypertension and other cardiovascular diseases, announced the pricing of its upsized initial public offering of 3,750,000 shares of common stock at $12 per share, generating expected gross proceeds of $45 million before underwriting discounts, commissions and other offering expenses. The company granted underwriters a 30-day option to purchase up to an additional 562,500 shares. Retension shares were expected to begin trading on the Nasdaq Capital Market on Oct. 9, 2026, with the offering scheduled to close on or about Oct. 13, subject to customary closing conditions.
Retension intends to use the net proceeds, together with existing cash and cash equivalents, to complete its Phase 2b clinical trial of RTN-001 for uncontrolled hypertension and prepare for, support and advance a planned Phase 3 trial. Remaining funds will be allocated to general corporate purposes and operating expenses. Leerink Partners, Guggenheim Securities and Oppenheimer & Co. are serving as joint bookrunning managers, with Titan Partners acting as lead manager.
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About Retension Pharmaceuticals
Retension Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing medicines for the treatment of hypertension and other cardiovascular diseases. The Company’s lead clinical candidate, RTN-001, is in development for patients with uncontrolled and resistant hypertension.
For more information, please visit https://www.retensionpharmaceuticals.com/
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