ADARx Pharmaceuticals, Inc.

What the company does

ADARx Pharmaceuticals, Inc. is a late-clinical stage biotechnology company focused on developing next-generation siRNA therapeutics designed to treat a broad spectrum of diseases. The company has built two proprietary technologies—mRNA Silencing Technology (MST) and Cell Targeted Delivery (CTD)—to optimize siRNA sequences and delivery to both hepatic and extrahepatic tissues. Its wholly-owned pipeline comprises three clinical-stage therapeutic candidates targeting complement-mediated diseases, hereditary angioedema (HAE), and thrombotic diseases, plus two preclinical programs targeting adipose tissue (obesity) and neurons (neurodegenerative diseases). In May 2025, ADARx entered into a discovery-stage Collaboration and License Option Agreement with AbbVie to advance novel siRNA therapeutics across multiple therapeutic areas.

Use of proceeds

The company estimates net proceeds from the offering and concurrent private placement of approximately $495.3 million (or approximately $557.5 million if the underwriters exercise their option to purchase additional shares in full), based on the IPO price of $17.00 per share. It intends to use the net proceeds, together with existing cash, to advance the development of agazisiran (including Phase 2 trials and potential Phase 3 development in complement-mediated diseases), onvuzosiran (including the Phase 3 STOP-HAE trial and pre-commercial activities), ADX-626, ADX-077, and ADX-199, with the remainder for additional research and development, working capital, and general corporate purposes.

Underwriters

Extracted from 424B4 0001193125-26-403094, filed Sep 28, 2026 and verified against that filing text.

Key risk factors

• Significant losses and uncertain profitability

  “We expect to incur significant losses for the foreseeable future and may never achieve or maintain profitability.”