
Inside the Obsidian Therapeutics IPO: Reverse-Merger Setup, Risks, and Watchpoints
Obsidian Therapeutics, Inc. Common Stock (NASDAQ: OBX) is expected to list on 2026-08-04, but the price range has not been disclosed. The company is coming to market through an all-stock reverse merger with Galera Therapeutics rather than a traditional IPO. Bull case: a differentiated cell-therapy platform with strong strategic backing; bear case: no disclosed pricing, no commercial revenue, and heavy clinical risk.
