ADARx Pharmaceuticals Prices Upsized $446.3 Million Initial Public Offering

04:27 AM EDT, 09/25/2026 (MT Newswires) -- ADARx Pharmaceuticals (ADRX) priced an upsized initial public offering of 26,250,000 common shares at $17 apiece, for about $446.3 million in expected gross proceeds, the company said late Thursday. The late-stage clinical biotechnology company granted a 30-day option to IPO underwriters to purchase up to 3,937,500 additional shares. ADARx expects its shares to start trading on the Nasdaq Global Select Market under the ticker symbol ADRX Friday. AbbVie (ABBV) has agreed to purchase a number of ADARx shares in a concurrent private placement that would result in AbbVie owning a roughly 4.9% stake in the company, ADARx said. However, in no event would AbbVie acquire more than $100 million of the shares, according to the company. The IPO and the private placement are expected to close Monday.