Proteomics Technology Company
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Newly public, trading on Nasdaq as ALMR; shares closed 29.4% above IPO price on first day, valuing company at ~$1.53 billion
Alamar Biosciences raised $191 million in its initial public offering on April 17, 2026 — nearly double the $100 million it originally planned — after investor demand exceeded available shares by more than tenfold. Shares priced at $17, opened at $22.60, and closed at $22.00, a 29% first-day gain that gave the company a market capitalization of roughly $1.53 billion. The Fremont, California company develops technology that detects proteins in blood at concentrations so low that conventional tests miss them entirely, potentially catching diseases years earlier than current methods allow. CEO and founder Yuling Luo told Reuters the company plans to use the proceeds to expand into cancer, cardiology, and other major disease areas. The company reported $74.2 million in revenue for fiscal year 2025 — nearly triple the prior year — giving public investors a baseline for measuring commercial growth against the IPO's lofty expectations.
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