ADARx Pharmaceuticals priced its upsized Nasdaq initial public offering at $17 per share, raising about $446.3 million in gross proceeds before expenses.
The company sold roughly 26.25 million shares, up from an earlier plan to sell about 21.9 million shares, indicating stronger-than-expected demand.
ADARx is developing next-generation siRNA therapeutics and will trade on Nasdaq under the ticker ADRX.
AbbVie also agreed to buy shares in a concurrent private placement, bringing total expected gross proceeds to about $535.2 million before fees if including that investment.
The deal is being viewed as part of a broader biotech IPO rebound, with investors showing continued appetite for life sciences listings.
Sources:
RNAi drug specialist ADARx raises $446M IPO
RNAi drug specialist ADARx raises $446M IPO
ADARx Pharmaceuticals raises $446.3 million in upsized US IPO
ADARx Pharmaceuticals Announces Pricing of Upsized ...
ADARx Pharmaceuticals prices upsized IPO at $17 per share
ADARx Pharmaceuticals prices $446.3M IPO at $17 per share By Investing.com
ADARx Prices IPO at $17, Expects - ADRX
ADARx Pharmaceuticals prices $446.3M IPO at $17 per ...
ADARx Pharmaceuticals Upsized IPO Priced at Top of Views
Adarx Pharmaceuticals IPO opens at $22.10, 30% above pricing
ADARx Pharmaceuticals prices $446.3M IPO at $17 per ...
Pasqal shares leap as French quantum firm makes Nasdaq ...
RNAi drug specialist ADARx raises $446M IPO