ADARx Pharmaceuticals set to open higher in Nasdaq debut after upsized $446.3 million IPO

AbbVie

25/09/2026 16:18

** Late-stage drug developer ADARx Pharmaceuticals ADRX.O on track to open above offer price in Nasdaq debut after upsized $446.3 million US IPO
** Stock recently indicated to open at $23 apiece vs $17 IPO price
** San Diego-based ADRX, which is developing RNA-based drugs for rare diseases, sold about 26.3 million shares in upsized IPO after initially marketing roughly 21.9 million shares priced between $15 and $17 apiece
** Separately, drugmaker AbbVie ABBV.N had indicated interest in buying $100 million worth of shares in concurrent private placement
** J.P. Morgan, Morgan Stanley, TD Cowen and UBS Investment Bank were lead book-running managers for offering 

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))