ADARx Pharmaceuticals files for proposed IPO

ADARx Pharmaceuticals has filed for a proposed initial public offering on the Nasdaq Global Market under the ticker symbol ADRX, according to a press release statement. The company did not disclose the timing or size of the offering.

ADARx describes itself as a late-clinical stage biotechnology company focused on developing siRNA, or small interfering RNA, therapeutics. The company said its pipeline includes three clinical-stage programs and two advanced preclinical programs targeting a range of diseases.

siRNA therapeutics work by targeting diseases at the genetic level through mRNA or RNA, without making permanent changes to a patient's DNA.

J.P. Morgan, Morgan Stanley, TD Cowen, UBS Investment Bank, and LifeSci Capital are serving as underwriters for the offering.

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