siRNA rising star ADARx (ADRX.US) launches $350 millions IPO, AbbVie subscribes to 4.9% of shares with a maximum investment of $100 millions
ADARx plans to raise $350 millions and list on Nasdaq. AbbVie will invest up to $100 millions to acquire a 4.9% stake, with a median valuation of $1.8 billions.
According to Golden Ten Data, ADARx Pharmaceuticals is a Phase 3 clinical-stage biotechnology company developing siRNA therapies for the treatment of various diseases. On Monday, the company announced its IPO terms.
The company plans to raise $350 million by issuing 21.9 million shares at a price range of $15 to $17 per share. AbbVie has agreed to purchase a certain number of shares in a concurrent private placement, and will hold 4.9% of the shares after the transaction is completed; based on the midpoint of the offering price range, this represents an investment of about $80 million, and its total investment will not exceed $100 million. Based on the midpoint of the proposed price range, the fully diluted market capitalization of ADARx Pharmaceuticals will reach $1.8 billion.
ADARx Pharmaceuticals focuses on developing next-generation small interfering RNA (siRNA) therapies aimed at treating a broad range of diseases. The company's pipeline includes three clinical-stage programs and two late-stage preclinical programs. All three clinical-stage drug candidates target liver tissue and are currently being evaluated for the treatment of complement-mediated diseases, hereditary angioedema, and thrombotic diseases. The other two programs are in or advancing toward IND (Investigational New Drug) enabling stages and are respectively targeted at obesity and neurodegenerative diseases, including Alzheimer's disease.
Founded in 2019, ADARx Pharmaceuticals achieved $6 million in revenue in the 12 months ended June 30, 2026. The company plans to list on Nasdaq under the ticker ADRX. JPMorgan, Morgan Stanley, TD Cowen, UBS Investment Bank, and LifeSci Capital will act as joint bookrunners for this transaction. Pricing is expected during the week of September 21, 2026 (Monday).
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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