ADARx Pharmaceuticals, Inc.
ADARx Pharmaceuticals filed Amendment No. 1 to its S-1 registration for an IPO on Nasdaq under the symbol "ADRX." The company is a late-clinical stage siRNA therapeutics biotech with three clinical-stage programs (agazisiran, onvuzosiran, ADX-626) and two preclinical extrahepatic programs (ADX-077 for obesity, ADX-199 for Alzheimer's). AbbVie has committed to purchase up to $100.0 million in a concurrent private placement at the IPO price, targeting approximately 4.9% ownership. The offering is underwritten by J.P. Morgan, Morgan Stanley, TD Cowen, UBS Investment Bank, and LifeSci Capital.
- ADARx is a late-clinical stage biotech developing next-gen siRNA therapeutics with three clinical-stage and two preclinical programs.
- AbbVie committed to purchase up to $100.0 million in a concurrent private placement at the IPO price, targeting ~4.9% post-IPO ownership.
- AbbVie paid $335.0 million upfront in May 2025 under a collaboration agreement, with up to $7.45 billion in additional milestone payments.
- Lead program onvuzosiran (HAE) is in Phase 3 with topline data expected by end of 2027 and potential NDA submission in 2028.
- Agazisiran Phase 2 trials in IgAN, C3G, and PNH are enrolling with initial data expected mid- to second half of 2027.
Price data unavailable.
A late-clinical siRNA biotech with a validated AbbVie partnership ($335M upfront, $7.45B in potential milestones) is entering public markets with near-term binary catalysts across multiple Phase 2 and
The siRNA therapeutics space has seen seven FDA approvals, dominated by liver-targeted drugs. ADARx aims to differentiate with extrahepatic delivery (adipose, CNS) and bispecific-siRNA technology, competing with Alnylam and other next-gen RNA platforms.
No approved products; all revenue to date is from the AbbVie collaboration. The company has a limited operating history, expects continued losses, and clinical data readouts in 2027-2028 are binary events that could materially impact the pipeline. Extrahepatic delivery technology (CTD) remains unpro
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