Generate Biomedicines, a biotechnology company based in Somerville, Massachusetts, announced the terms of a $400 million IPO.[1][2] It plans to offer 25 million shares at a price range of $15 to $17 per share, giving it a market capitalization of about $2.04 billion at an average price of $16.[1][2] The IPO is to be listed on Nasdaq under the symbol GENB, with an expected date of February 27, 2026.[1][7] The company uses an AI platform for drug discovery and has developed three proteins that have advanced to human clinical trials, including lead candidate GB-0895 – a monoclonal antibody against TSLP in phase 3 clinical trials for the treatment of severe asthma.[2][7] Proceeds from the IPO will be used to fund two Phase 3 clinical trials for GB-0895 and other programs.[1] Founded in 2018, the company reported revenue of $31.89 million to $32 million and a loss of $222.97 million for the year ending December 31, 2025.[1][2] Lead coordinators are Goldman Sachs and Morgan Stanley, along with Piper Sandler, Guggenheim Securities and Cantor.[1][2]