Retension Pharmaceuticals, a Falls Church, Virginia-based clinical-stage biopharmaceutical company developing medicines for hypertension and other cardiovascular diseases, announced on October 8, 2026 the pricing of its upsized initial public offering of 3,750,000 shares of common stock at $12.00 per share. Gross proceeds are expected to be $45.0 million, before underwriting discounts, commissions, and other offering expenses.
Shares were expected to begin trading on the Nasdaq Capital Market on October 9, 2026 under the ticker “RTSN,” with the offering expected to close on or about October 13, subject to customary closing conditions. Retension has granted the underwriters a 30-day option to purchase up to an additional 562,500 shares at the IPO price, less underwriting discounts and commissions. All shares are being offered by the company.
Funding the Path to Phase 3
Retension plans to use the net proceeds, together with existing cash, to complete its Phase 2b clinical trial of RTN-001 in uncontrolled hypertension and to prepare for and advance a planned Phase 3 trial, with the remainder going to general corporate purposes.
About RTN-001
RTN-001 is a cardiovascular-targeted, next-generation PDE5 inhibitor designed to enhance nitric oxide signaling in central arteries that first-generation PDE5 inhibitors don’t adequately reach, targeting a core driver of hypertension. It is being developed for patients with uncontrolled and resistant hypertension.
RTN-001 has been studied in multiple clinical trials totaling 265 enrolled subjects. In two Phase 2 pilot trials, it achieved clinically meaningful placebo-adjusted reductions in systolic and diastolic blood pressure in patients with hypertension, according to the company. A Phase 2b trial is ongoing. Retension is developing RTN-001 under an exclusive worldwide license from Sanofi.
The Offering
Leerink Partners, Guggenheim Securities, and Oppenheimer & Co. are acting as joint bookrunning managers, with Titan Partners as lead manager. Registration statements for the offering became effective on October 8, 2026, and the offering is being made only by means of a prospectus.
About Retension Pharmaceuticals
Retension Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing medicines for hypertension and other cardiovascular diseases. Its lead clinical candidate, RTN-001, is in development for uncontrolled and resistant hypertension.
