Rezera is developing ruvonoflast, its lead product candidate for atherosclerotic cardiovascular disease. The company said proceeds from the offering, combined with existing resources, are expected to cover operating expenses and capital-spending needs at least through the first quarter of 2029.

Assuming the underwriters exercise their option to buy an additional 2.5 million shares, Rezera expects to have nearly 23.3 million shares outstanding after the IPO. At the $12 midpoint, that would imply a market capitalization of about $279 million. Rezera has applied to list its shares on the Nasdaq Global Market under the symbol RZRA.