ADARx Plans $350 Million IPO, AbbVie Stake

ADARx Pharmaceuticals, a San Diego biotechnology company developing small-interfering RNA therapies, plans to raise up to $350 million through a Nasdaq IPO of 21.9 million shares priced at $15 to $17 each under the ticker ADRX. The offering would value the company at roughly $1.74 billion to $1.8 billion, while AbbVie has agreed to invest up to $100 million in a concurrent private placement for an approximately 4.9% stake. ADARx has three clinical-stage programs and two advanced preclinical programs targeting conditions including hereditary angioedema, complement-mediated and thrombotic diseases, obesity, and neurodegenerative disorders such as Alzheimer’s disease. Its leading candidate, onvuzosiran, is in Phase 3 testing for hereditary angioedema, and the company says IPO proceeds will support its clinical trials and research. The company expects to price the offering during the week of September 21, 2026, with several major investment banks serving as underwriters.