ADARx IPO raises $602.5M after underwriters exercise full option

ADARx Pharmaceuticals, Inc. (Nasdaq: ADRX) announced that underwriters fully exercised their option to purchase an additional 3,937,500 shares of common stock at $17.00 per share, closing October 1, 2026.

The exercise brings the total shares sold in the initial public offering to 30,187,500, generating approximately $513.2 million in gross proceeds before underwriting discounts, commissions, and offering expenses.

AbbVie separately purchased 5,255,542 shares at $17.00 per share in a concurrent private placement. Combined with the IPO proceeds, the total gross proceeds to ADARx reached approximately $602.5 million, before deducting underwriting discounts, placement agent fees, and other expenses.

J.P. Morgan, Morgan Stanley, TD Cowen, and UBS Investment Bank served as lead book-running managers for the offering. LifeSci Capital acted as a book-running manager.

The registration statements related to the offering were filed with the U.S. Securities and Exchange Commission and became effective on September 24, 2026.

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