Overview
Apnimed Inc. (APMD) leads the pack of 2026 U.S. IPOs, trading at $26.51, which represents a 65.7% increase from its $16.00 offering price. Scribe Therapeutics (SCTX) sits in second place with a 58.7% gain from its $15.00 IPO to $23.80. Both of the top performers are biotech companies, underlining the sector's prominence among this year's new listings.
2026 U.S. IPO Leaderboard
| Company | IPO Price | Current Price | Gain from IPO | IPO Date |
|---|---|---|---|---|
| Apnimed (APMD) | $16.00 | $26.51 | +65.7% | Jul 30 |
| Scribe Therapeutics (SCTX) | $15.00 | $23.80 | +58.7% | Jul 23 |
| Ionic Digital (IOND) | $53.00 | $59.20 | +11.7% | Jul 28 |
| Reformation (REF) | $15.00 | $16.13 | +7.5% | Jul 30 |
| Jersey Mikes Subs (JMKE) | $23.00 | $23.14 | +0.6% | Jul 30 |
| SK hynix (SKHY) | $149.00 | $151.05 | +1.4% | Jul 10 |
| Csquare (CSQR) | $21.00 | $20.29 | -3.4% | Jul 16 |
| Standard Nuclear (STDN) | $15.00 | $8.23 | -45.1% | Jul 16 |
| QumulusAI (QMLS) | $31.29 | $6.04 | -80.7% | Jul 16 |
Biotech duo at the top
Apnimed, a developer of a therapy for sleep apnea, has retained most of its initial post-IPO gains. The stock, which opened at $16.00, reached a 52-week high of $29.15 and currently trades at $26.51, posting a daily gain of 3.1% on the latest session. Scribe Therapeutics, which works in CRISPR gene editing, has also attracted notable investor interest, advancing 29.6% over the past week and touching a 52-week high of $25.49.
Together, these two biotech listings illustrate where demand among this year's IPOs has been concentrated.
Winners and losers
Not every newcomer has performed well. QumulusAI (QMLS) has been the weakest debut, falling 80.7% from its $31.29 IPO price to $6.04. Standard Nuclear (STDN) is down 45.1% from its $15.00 offering. The data show a clear bifurcation in the 2026 IPO cohort, with therapeutic biotech names clustering at the top and more speculative companies often showing steep declines.
The report includes a notable example outside that binary: SpaceX, referenced by the ticker SPCX, is down 19.8% from its IPO price, underscoring that even high-profile listings can trade below their offer levels.
Key takeaway
The 2026 IPO class so far reflects a split market: therapeutic biotech issuers have rewarded early investors, while several AI, nuclear, and other speculative names have disappointed. Apnimeds 65.7% gain from its IPO price places it clearly at the top of this years U.S. listings, though as a recently public company it remains early in its public lifecycle and its broader clinical and commercial trajectory is not yet established.