BUZZ-ADARx Pharmaceuticals surged on its Nasdaq debut, raising $446.3 million in IPO.
路透社2026/09/25 16:46Latest Developments
September 25 - ** Late-stage drug developer ADARx Pharmaceuticals (stock code: ADRX.O) saw its share price soar as much as 36.5% on its first day of trading on Nasdaq, after the company expanded its initial public offering (IPO) to $446.3 million
**The opening price was $22.10 per share , higher than the IPO issue price of $17
** Headquartered in San Diego, ADARx Pharmaceuticals focuses on developing RNA drugs for rare diseases. In the upsized IPO (link), the company sold approximately 26.3 million shares; previously, the company (link) planned to offer about 21.9 million shares at $15 to $17 per share
** In addition, pharmaceutical company AbbVie ABBV.N has indicated its intention to subscribe for $100 million worth of shares in a private placement conducted concurrently
** JPMorgan, Morgan Stanley, TD Cowen, and UBS Investment Bank served as joint bookrunners for the offering
** ADRX competitor City Therapeutics (link) also filed for a US IPO on Thursday, further filling the biotech pipeline during the fall IPO window
** “If ADARx performs well, I expect City will have no trouble finding buyers,” said Matt Kennedy, senior strategist at Renaissance Capital, a firm specializing in IPO research and ETFs
(To facilitate non-native English speakers, Reuters has automatically translated its reports into several other languages. As automated translation may contain errors or lack necessary context, Reuters does not guarantee the accuracy of the automated translation and provides it solely for readers' convenience. Reuters assumes no responsibility for any damage or loss arising from the use of the automated translation function.)
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