Hypertension drug developer Retension (RTSN.US) IPO priced at $11-13 per share, aiming to raise $40 million.

According to Golden Ten Data APP, US hypertension drug developer Retension Pharmaceuticals (RTSN.US) announced the terms of its initial public offering (IPO) on Monday. The company plans to issue 3.3 million shares at a price range of $11 to $13 per share, raising $40 million. Based on the midpoint of the offering price range, Retension's fully diluted market capitalization will reach $108 million.

Retension was founded in 2023 and is a clinical-stage biopharmaceutical company currently focused on developing a single product, RTN-001. This is a once-daily, oral PDE-5 inhibitor for the treatment of uncontrolled hypertension and resistant hypertension. First-generation PDE-5 inhibitors (such as Viagra) never achieved meaningful blood pressure-lowering effects. The company believes this is because such drugs have difficulty fully penetrating the central vascular system rich in smooth muscle, whereas RTN-001 has been redesigned to improve bioavailability and increase its distribution within these tissues.

This drug was initially developed by Surface Logix, then subsequently by Nano Terra, Kadmon, and Sanofi, until the current team reacquired its license in 2023, bringing data from 9 completed trials, including two phase 2 trials. In October 2025, the company started a phase 2b dose exploration trial involving 280 patients, with about 40% of patients enrolled so far, and preliminary data expected to be released in the first half of 2027.

Retension plans to list on Nasdaq under the stock code "RTSN", with Leerink Partners, Guggenheim Securities, and Oppenheimer & Co. acting as joint underwriters for the transaction. Pricing is expected during the week of October 5, 2026.