IPOs/The Nasdaq Global Select Market/2026/ADARx Pharmaceuticals, Inc.

ADARx Pharmaceuticals, Inc. ADRX

ADARx Pharmaceuticals, Inc. (ADRX) priced its IPO on The Nasdaq Global Select Market on September 28, 2026 at $17.00 a share. Develops next-generation siRNA therapeutics for diseases including complement-mediated diseases, hereditary angioedema, thrombotic diseases, obesity and Alzheimer's disease. Based in San Diego, California.

Registered
Priced
TradingYes
Offer price
$17.00
Raised
Not given
Shares offered
26,250,000 shares
Lock-up
180 days
See the prospectus →

The company

ADARx Pharmaceuticals, Inc. is based in San Diego, California and develops next-generation siRNA therapeutics for diseases including complement-mediated diseases, hereditary angioedema, thrombotic diseases, obesity and Alzheimer's disease. It sold 26,250,000 shares at $17.00 per share.

The proceeds will advance agazisiran Phase 2/3 development, onvuzosiran Phase 3 and pre-commercial activities, ADX-626 Phase 1/2 development, and ADX-077 and ADX-199 Phase 1 development. After the offering, Zhen Li, Ph.D. holds 7.8%, Rui Zhu, Ph.D. holds 7.8%, and AbbVie Inc. holds 4.9%.

Where the money goes

advance agazisiran Phase 2/3 development
advance onvuzosiran Phase 3 and pre-commercial activities
advance ADX-626 Phase 1/2 development
advance ADX-077 and ADX-199 Phase 1 development

Revenue and results

Revenue, 2025$335.0 million
Net result, 2025loss
Net result, 2024loss

The risks it lists first

Limited operating history, no products approved
Expect significant losses, may never achieve profitability
Need substantial additional funding, may cause dilution