Adagene Reports Six Months 2025 Financial Results and Provides Corporate Updates
Adagene (NASDAQ:ADAG) reported significant progress in its H1 2025 financial results and pipeline developments. The company's flagship product ADG126 demonstrated impressive results in Phase 1b/2 trials, showing 19.4-month median overall survival in MSS CRC patients at 10 mg/kg dosing, with 20 mg/kg cohorts' median OS not yet reached. The drug achieved a 29% confirmed overall response rate in MSS CRC.
Notable corporate developments include a strategic investment of up to $25 million from Sanofi, which will conduct a Phase 1b/2 trial of ADG126 combinations. The company reported $62.8 million in cash as of June 30, 2025, with a reduced net loss of $13.5 million compared to $17.0 million in the same period of 2024. FDA alignment on Phase 2 and 3 trial designs positions ADG126 for advancement, with Phase 2 enrollment planned for 2H 2025.
Adagene (NASDAQ:ADAG) ha riportato progressi significativi nei risultati finanziari del primo semestre 2025 e nello sviluppo della propria pipeline. Il prodotto di punta ADG126 ha dimostrato risultati impressionanti negli studi di fase 1b/2, mostrando una mediana di sopravvivenza globale di 19,4 mesi nei pazienti con CRC MSS a dosaggio di 10 mg/kg, mentre la mediana di OS per le coorti da 20 mg/kg non è ancora stata raggiunta. Il farmaco ha ottenuto un tasso di risposta globale confermato del 29% nel CRC MSS.
Tra gli sviluppi societari rilevanti figura un investimento strategico fino a 25 milioni di dollari da parte di Sanofi, che condurrà uno studio di fase 1b/2 sulle combinazioni con ADG126. La società ha riportato 62,8 milioni di dollari in cassa al 30 giugno 2025, con una perdita netta ridotta a 13,5 milioni rispetto ai 17,0 milioni nello stesso periodo del 2024. L'allineamento con la FDA sui disegni degli studi di fase 2 e 3 posiziona ADG126 per l'avanzamento, con l'arruolamento della fase 2 previsto nella seconda metà del 2025.
Adagene (NASDAQ:ADAG) informó progresos significativos en sus resultados financieros del primer semestre de 2025 y en el desarrollo de su cartera. Su producto estrella ADG126 mostró resultados llamativos en ensayos de fase 1b/2, con una mediana de supervivencia global de 19,4 meses en pacientes con CRC MSS tratados a 10 mg/kg, mientras que la mediana de supervivencia en las cohortes de 20 mg/kg aún no se ha alcanzado. El fármaco logró un 29% de tasa de respuesta global confirmada en CRC MSS.
Entre los hitos corporativos destaca una inversión estratégica de hasta 25 millones de dólares por parte de Sanofi, que llevará a cabo un ensayo de fase 1b/2 de combinaciones con ADG126. La compañía informó 62,8 millones de dólares en efectivo al 30 de junio de 2025, con una pérdida neta reducida a 13,5 millones frente a 17,0 millones en el mismo periodo de 2024. La alineación con la FDA sobre los diseños de los ensayos de fase 2 y 3 posiciona a ADG126 para avanzar, con el reclutamiento de la fase 2 previsto para la segunda mitad de 2025.
Adagene (NASDAQ:ADAG)는 2025년 상반기 재무실적과 파이프라인 개발에서 의미 있는 진전을 보고했습니다. 주력 제품 ADG126은 1b/2상 시험에서 인상적인 결과를 보였으며, 10 mg/kg 투여군의 MSS 대장암 환자에서 전체 생존기간 중앙값 19.4개월을 기록했으며 20 mg/kg 코호트의 중앙값은 아직 도달하지 않았습니다. 이 약물은 MSS 대장암에서 확인된 전체 반응률 29%을 달성했습니다.
주요 기업 관련 소식으로는 Sanofi의 최대 2,500만 달러 규모 전략적 투자이 있으며, Sanofi는 ADG126 병용요법에 대한 1b/2상 시험을 수행할 예정입니다. 회사는 2025년 6월 30일 기준 현금 $62.8 million을 보고했으며, 순손실은 2024년 동기 1,700만 달러에서 감소한 1,350만 달러로 집계되었습니다. FDA와의 2상 및 3상 설계 관련 합의는 ADG126의 진전을 가능하게 하며, 2상 등록은 2025년 하반기로 계획되어 있습니다.
Adagene (NASDAQ:ADAG) a annoncé des progrès significatifs dans ses résultats financiers du premier semestre 2025 et dans le développement de sa pipeline. Son produit phare ADG126 a montré des résultats impressionnants dans des essais de phase 1b/2, affichant une médiane de survie globale de 19,4 mois chez des patients atteints de CRC MSS traités à 10 mg/kg, tandis que la médiane des cohortes à 20 mg/kg n'est pas encore atteinte. Le médicament a obtenu un taux de réponse globale confirmé de 29% dans le CRC MSS.
Parmi les évolutions notables figure un investissement stratégique pouvant atteindre 25 millions de dollars de la part de Sanofi, qui mènera un essai de phase 1b/2 portant sur des combinaisons avec ADG126. La société a déclaré 62,8 millions de dollars en trésorerie au 30 juin 2025, avec une perte nette réduite à 13,5 millions contre 17,0 millions sur la même période en 2024. L'alignement avec la FDA sur les plans des essais de phase 2 et 3 positionne ADG126 pour une progression, l'enrôlement en phase 2 étant prévu pour le second semestre 2025.
Adagene (NASDAQ:ADAG) meldete deutliche Fortschritte in den Finanzergebnissen des ersten Halbjahres 2025 und in der Weiterentwicklung der Pipeline. Das Flaggschiff ADG126 zeigte beeindruckende Resultate in Phase‑1b/2‑Studien: eine mediane Gesamtüberlebenszeit von 19,4 Monaten bei MSS‑CRC‑Patienten unter 10 mg/kg, während die mediane OS in den 20 mg/kg‑Kohorten noch nicht erreicht ist. Der Wirkstoff erzielte eine bestätigte Gesamtansprechrate von 29% bei MSS‑CRC.
Zu den bedeutenden Unternehmensentwicklungen zählt eine strategische Investition von bis zu 25 Millionen US‑Dollar durch Sanofi, das eine Phase‑1b/2‑Studie zu Kombinationen mit ADG126 durchführen wird. Das Unternehmen meldete 62,8 Millionen US‑Dollar in bar zum 30. Juni 2025 und einen reduzierten Nettoverlust von 13,5 Millionen gegenüber 17,0 Millionen im gleichen Zeitraum 2024. Die Abstimmung mit der FDA zu den Designs der Phase‑2‑ und Phase‑3‑Studien positioniert ADG126 für den weiteren Fortschritt, wobei die Rekrutierung für Phase 2 in der zweiten Hälfte 2025 geplant ist.
- ADG126 showed 19.4-month median overall survival in MSS CRC, surpassing historical benchmarks
- 29% confirmed overall response rate in MSS CRC with strong safety profile
- Secured up to $25M strategic investment from Sanofi, extending cash runway into 2027
- Reduced net loss by 20.6% year-over-year to $13.5M
- R&D expenses decreased 18% to $12.0M through improved clinical focus
- FDA alignment achieved on Phase 2 and 3 trial designs without requiring monotherapy arm
- Cash position decreased to $62.8M from $85.2M in December 2024
- Outstanding bank borrowings of $6.6M despite reduction from previous $18.2M
Insights
Adagene's promising survival data for ADG126 and Sanofi's $25M investment strengthen its clinical and financial position through 2027.
Adagene's interim results for its lead candidate muzastotug (ADG126) demonstrate impressive clinical potential in MSS colorectal cancer. The 19.4-month median overall survival in the 10 mg/kg cohort substantially outperforms historical benchmarks (10.8-12.1 months), while the higher 20 mg/kg dosing group hasn't even reached median OS yet - suggesting potentially superior efficacy at higher doses.
What's particularly notable is the favorable safety profile despite dosing 10-20 times higher than approved CTLA-4 inhibitors. The Grade 3 adverse events below 20% demonstrates their SAFEbody platform's effectiveness in minimizing off-tumor toxicity while maximizing tumor-specific activity through conditional activation.
The FDA alignment on Phase 2/3 trial design without requiring an ADG126 monotherapy arm represents a significant regulatory milestone that streamlines the development pathway. This, combined with Sanofi's strategic investment of up to $25 million and commitment to run a 100+ patient Phase 1b/2 trial, provides substantial external validation.
Financially, their $62.8M cash position (pre-Sanofi investment) and reduced R&D expenses show disciplined cash management. The 18% reduction in R&D expenses reflects appropriate program prioritization rather than across-the-board cuts. With Sanofi's investment extending runway into 2027, Adagene has sufficient capital to reach critical clinical milestones.
The strong early survival data, FDA alignment, major pharma partnership, and extended cash runway collectively position Adagene to potentially transform CTLA-4 inhibition into a safer, more effective therapeutic approach for difficult-to-treat cancers.
The strategic elements of Adagene's business developments reveal a sophisticated approach to value creation. The Sanofi partnership represents far more than just capital - it's a multidimensional collaboration providing clinical validation, expanded patient access, and risk mitigation.
Sanofi's decision to conduct a 100+ patient trial with ADG126 delivers extraordinary value beyond the financial investment. It effectively provides Adagene with an additional clinical development pathway at minimal cost, generating complementary data that can strengthen the overall evidence package for potential approval.
The SAFEbody platform continues demonstrating its versatility and partner appeal, with Sanofi exercising options for a third bispecific program. This validates both the technology's broad applicability and Adagene's execution capabilities in discovery and preclinical development.
The expansion into ADCs through the ConjugateBio partnership strategically leverages Adagene's antibody expertise into the rapidly growing ADC space without significant internal investment. This approach to business development - focusing internal resources on their lead asset while accessing new therapeutic modalities through partnerships - reflects prudent strategic planning.
The appointment of John Maraganore as Executive Advisor brings invaluable experience from building Alnylam into a commercial-stage company. His expertise in navigating the transition from clinical to commercial operations suggests Adagene is already planning for potential commercial success of ADG126.
Overall, management has constructed a well-balanced strategy: advancing their lead asset toward potential registration while simultaneously building platform value through strategic partnerships that minimize cash burn and extend their runway, positioning them strongly for either continued independent development or attractive partnership/acquisition scenarios.
Muzastotug (ADG126) Phase 1b/2 in MSS CRC shows 19.4-month median OS (mOS) in 10 mg/kg dose cohorts; mOS for 20 mg/kg cohorts has not yet been reached
Alignment with FDA on Phase 2 and Phase 3 trial design elements. Company expects to begin enrolling patients in Phase 2 in 2H 2025
SAFEbody option exercised and up to US
Sanofi will conduct a Phase 1b/2 trial in combination with ADG126 in over 100 patients
Strengthened leadership team with key additions
Partnered with ConjugateBio for development of bispecific ADCs
SAN DIEGO and SUZHOU, China, Aug. 12, 2025 (GLOBE NEWSWIRE) -- Adagene Inc. (“Adagene” or the “Company”) (Nasdaq: ADAG), a platform-driven, clinical-stage biotechnology company transforming the discovery and development of novel antibody-based therapies, today reported financial results for the six months ended June 30, 2025, and provided corporate updates.
“The first half of 2025 was tremendously important for Adagene, as we shared the early overall survival benefit with ADG126 in combination with Merck’s (known as MSD outside of the US and Canada) anti-PD-1 therapy, KEYTRUDA® (pembrolizumab) that exceeds standard of care and is highly competitive with data from other products in development. The safety and tolerability data from ADG126 in combination with pembrolizumab in our Phase 1b/2 study in microsatellite stable colorectal cancer contributes to a large body of growing evidence that the power of CTLA-4 inhibition can be harnessed more safely with our approach utilizing conditional activation in the tumor microenvironment. Grade 3 treatment-related adverse events were less than
PIPELINE HIGHLIGHTS
ADG126 - Phase 1b/2 data and regulatory update:
As presented at the 2025 American Society of Clinical Oncology (ASCO) Annual Meeting (Poster #248), mOS for the 10 mg/kg cohorts was 19.4 months in microsatellite stable colorectal cancer (MSS CRC) patients free of liver metastasis (NLM), comparing favorably with historical fruquintinib benchmarks of 10.8 months from the FRESCOi study and 12.1 months from the FRESCO-2ii study for the same NLM patient population. Only 1 out of 41 patients in the 10 mg/kg cohorts was censored due to early withdrawal within the first 12 months. Median OS for the 20 mg/kg cohorts has not yet been reached. ADG126 showed a
As recently reported, Adagene has now gained alignment with the FDA on Phase 2 and Phase 3 trial design elements for ADG126, and the Company plans to begin enrollment in 2H 2025. In addition, Adagene has initiated evaluation of ADG126 plus pembrolizumab in combination with standard of care in MSS CRC patients, as approved by the Merck/Adagene joint development committee and supported by the 2021 supply agreement between the two partners.
MAJOR COLLABORATIONS
Sanofi: In July, Sanofi agreed to make a strategic investment of up to US
Sanofi has also exercised its option to select a third SAFEbody discovery program, utilizing Adagene’s proprietary masking technology and antibody engineering expertise. The bispecific therapeutic, with undisclosed targets, will be engineered by Adagene and induces an option exercise fee, as well as milestones and royalties as per the 2022 partnership agreement.
Exelixis: Including upfront and other milestone payments, Adagene has received over US
ConjugateBio: In July 2025, Adagene entered into a partnering agreement with ConjugateBio to develop novel antibody drug conjugates. Adagene will provide ConjugateBio with a proprietary antibody for use in partner companies’ bispecific ADC development programs.
CORPORATE UPDATES
In April, Adagene appointed John Maraganore, Ph.D. as Executive Advisor to provide strategic guidance, and to contribute to Adagene’s growth, value creation and benefit for patients.
In May, Mickael Chane-Du joined Adagene as Chief Strategy Officer to promote and advance Adagene’s financing, internal strategic planning and external business development efforts.
FINANCIAL HIGHLIGHTS
Cash and Cash Equivalents:
Cash and cash equivalents were US
Research and Development (R&D) Expenses:
R&D expenses were US
Administrative Expenses:
Administrative expenses were US
Net Loss:
Net loss attributable to Adagene Inc.’s shareholders was US
Ordinary Shares Outstanding:
As of June 30, 2025, there were 58,914,087 ordinary shares issued and outstanding. Each American depository share, or ADS, represents one and one quarter (1.25) ordinary shares of the company.
Non-GAAP Net Loss:
Non-GAAP net loss, which is defined as net loss attributable to ordinary shareholders for the period after excluding share-based compensation expenses, was US
Non-GAAP Financial Measures:
The company uses non-GAAP net loss and non-GAAP net loss per ordinary share for the period, which are non-GAAP financial measures, in evaluating its operating results and for financial and operational decision-making purposes. The company believes that non-GAAP net loss and non-GAAP net loss per ordinary share for the period help identify underlying trends in the company’s business that could otherwise be distorted by the effect of certain expenses that the company includes in its loss for the period. The company believes that non-GAAP net loss and non-GAAP net loss per ordinary share for the period provide useful information about its results of operations, enhances the overall understanding of its past performance and future prospects and allows for greater visibility with respect to key metrics used by its management in its financial and operational decision-making.
Non-GAAP net loss and non-GAAP net loss per ordinary share for the period should not be considered in isolation or construed as an alternative to operating profit, loss for the period or any other measure of performance or as an indicator of its operating performance. Investors are encouraged to review non-GAAP net loss and non-GAAP net loss per ordinary share for the period and the reconciliation to their most directly comparable GAAP measures. Non-GAAP net loss and non-GAAP net loss per ordinary share for the period here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to the company’s data. The company encourages investors and others to review its financial information in its entirety and not rely on a single financial measure. Non-GAAP net loss and non-GAAP net loss per ordinary share for the period represent net loss attributable to ordinary shareholders for the period excluding share-based compensation expenses. Share-based compensation expense is a non-cash expense arising from the grant of stock-based awards to employees. The company believes that the exclusion of share-based compensation expenses from the net loss in the “Reconciliation of GAAP and Non-GAAP Results” assists management and investors in making meaningful period-to-period comparisons in the company's operating performance or peer group comparisons because (i) the amount of share-based compensation expenses in any specific period may not directly correlate to the company’s underlying performance, (ii) such expenses can vary significantly between periods as a result of the timing of grants of new stock-based awards, and (iii) other companies may use different forms of employee compensation or different valuation methodologies for their share-based compensation. Please see the “Reconciliation of GAAP and Non-GAAP Results” included in this press release for a full reconciliation of non-GAAP net loss and non-GAAP net loss per ordinary share for the period to net loss attributable to ordinary shareholders for the period.
About Adagene
Adagene Inc. (Nasdaq: ADAG) is a platform-driven, clinical-stage biotechnology company committed to transforming the discovery and development of novel antibody-based cancer immunotherapies. Adagene combines computational biology and artificial intelligence to design novel antibodies that address globally unmet patient needs. The company has forged strategic collaborations with reputable global partners that leverage its SAFEbody® precision masking technology in multiple approaches at the vanguard of science.
Powered by its proprietary Dynamic Precision Library (DPL) platform, composed of NEObody™, SAFEbody, and POWERbody™ technologies, Adagene’s highly differentiated pipeline features novel immunotherapy programs. The company’s SAFEbody technology is designed to address safety and tolerability challenges associated with many antibody therapeutics by using precision masking technology to shield the binding domain of the biologic therapy. Through activation in the tumor microenvironment, this allows for tumor-specific targeting of antibodies in tumor microenvironment, while minimizing on-target off-tumor toxicity in healthy tissues.
Adagene’s lead clinical program, ADG126 (muzastotug), is a masked, anti-CTLA-4 SAFEbody that targets a unique epitope of CTLA-4 in regulatory T cells (Tregs) in the tumor microenvironment. ADG126 is currently in phase 1b/2 clinical studies in combination with anti-PD-1 therapy, particularly focused on Metastatic Microsatellite-stable (MSS) Colorectal Cancer (CRC). Validated by ongoing clinical research, the SAFEbody platform can be applied to a wide variety of antibody-based therapeutic modalities, including Fc empowered antibodies, antibody-drug conjugates, and bi/multispecific T-cell engagers.
For more information, please visit: https://investor.adagene.com.
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SAFEbody® is a registered trademark in the United States, China, Australia, Japan, Singapore, and the European Union.
KEYTRUDA® is a registered trademark of Merck Sharp & Dohme LLC, a subsidiary of Merck & Co., Inc., Rahway, NJ, USA.
Safe Harbor Statement
This press release contains forward-looking statements, including statements regarding certain clinical results of ADG126, the potential implications of clinical data for patients, and Adagene’s advancement of, and anticipated preclinical activities, clinical development, regulatory milestones, and commercialization of its product candidates. Actual results may differ materially from those indicated in the forward-looking statements as a result of various important factors, including but not limited to Adagene’s ability to demonstrate the safety and efficacy of its drug candidates; the clinical results for its drug candidates, which may not support further development or regulatory approval; the content and timing of decisions made by the relevant regulatory authorities regarding regulatory approval of Adagene’s drug candidates; Adagene’s ability to achieve commercial success for its drug candidates, if approved; Adagene’s ability to obtain and maintain protection of intellectual property for its technology and drugs; Adagene’s reliance on third parties to conduct drug development, manufacturing and other services; Adagene’s limited operating history and Adagene’s ability to obtain additional funding for operations and to complete the development and commercialization of its drug candidates; Adagene’s ability to enter into additional collaboration agreements beyond its existing strategic partnerships or collaborations, and the impact of the COVID-19 pandemic on Adagene’s clinical development, commercial and other operations, as well as those risks more fully discussed in the “Risk Factors” section in Adagene’s filings with the U.S. Securities and Exchange Commission. All forward-looking statements are based on information currently available to Adagene, and Adagene undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.
Investor Contacts:
Raymond Tam
Raymond_tam@adagene.com
Corey Davis
LifeSci Advisors
cdavis@lifesciadvisors.com
_______________
i FRESCO: Li J.et al. JAMA. 2018;319(24):2486–2496
ii FRESCO-2: Garcia-Carbonero, R. et al. Annals of Oncology, 2024; Volume 35, S439
| Unaudited Consolidated Balance Sheets | |||||
| December 31, 2024 | June 30, 2025 | ||||
| US$ | US$ | ||||
| ASSETS | |||||
| Current assets: | |||||
| Cash and cash equivalents | 85,194,502 | 62,828,156 | |||
| Amounts due from related parties | 8,309 | 2,449 | |||
| Prepayments and other current assets | 2,575,194 | 2,532,759 | |||
| Total current assets | 87,778,005 | 65,363,364 | |||
| Property, equipment and software, net | 1,125,389 | 901,383 | |||
| Operating lease right-of-use assets | 283,645 | 214,556 | |||
| Other non-current assets | 81,386 | 37,440 | |||
| TOTAL ASSETS | 89,268,425 | 66,516,743 | |||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | |||||
| Current liabilities: | |||||
| Accounts payable | 4,241,773 | 3,626,223 | |||
| Amounts due to related parties | 13,187,966 | 14,448,405 | |||
| Accruals and other current liabilities | 2,816,038 | 3,676,273 | |||
| Income tax payable | 5,265 | 4,121 | |||
| Short-term borrowings | 4,868,956 | 2,095,382 | |||
| Current portion of long-term borrowings | 12,923,599 | 4,539,994 | |||
| Current portion of operating lease liabilities | 141,341 | 125,851 | |||
| Total current liabilities | 38,184,938 | 28,516,249 | |||
| Long-term borrowings | 417,339 | — | |||
| Operating lease liabilities | 142,304 | 88,705 | |||
| TOTAL LIABILITIES | 38,744,581 | 28,604,954 | |||
| Commitments and contingencies | |||||
| Shareholders’ equity: | |||||
| Ordinary shares (par value of US | 5,889 | 5,891 | |||
| Additional paid-in capital | 362,220,445 | 364,254,280 | |||
| Accumulated other comprehensive loss | (526,903 | ) | (1,695,555 | ) | |
| Accumulated deficit | (311,175,587 | ) | (324,652,827 | ) | |
| Total shareholders’ equity | 50,523,844 | 37,911,789 | |||
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | 89,268,425 | 66,516,743 | |||
| Unaudited Consolidated Statements of Comprehensive Loss | |||||
| For the Six Months Ended June 30, 2024 | For the Six Months Ended June 30, 2025 | ||||
| US$ | US$ | ||||
| Revenues | |||||
| Licensing and collaboration revenue | — | — | |||
| Operating expenses and income | |||||
| Research and development expenses | (14,724,553 | ) | (12,015,184 | ) | |
| Administrative expenses | (3,597,278 | ) | (3,673,073 | ) | |
| Loss from operations | (18,321,831 | ) | (15,688,257 | ) | |
| Interest and investment income | 1,976,559 | 1,214,108 | |||
| Interest expense | (428,328 | ) | (318,422 | ) | |
| Other income, net | 47,040 | 63,436 | |||
| Foreign exchange gain (loss), net | (283,768 | ) | 1,252,353 | ||
| Loss before income tax | (17,010,328 | ) | (13,476,782 | ) | |
| Income tax expense | (1,388 | ) | (458 | ) | |
| Net loss attributable to Adagene Inc.’s shareholders | (17,011,716 | ) | (13,477,240 | ) | |
| Other comprehensive income (loss) | |||||
| Foreign currency translation adjustments, net of nil tax | 500,285 | (1,168,652 | ) | ||
| Total comprehensive loss attributable to Adagene Inc.’s shareholders | (16,511,431 | ) | (14,645,892 | ) | |
| Net loss attributable to Adagene Inc.’s shareholders | (17,011,716 | ) | (13,477,240 | ) | |
| Net loss attributable to ordinary shareholders | (17,011,716 | ) | (13,477,240 | ) | |
| Weighted average number of ordinary shares used in per share calculation: | |||||
| —Basic | 55,213,051 | 58,891,864 | |||
| —Diluted | 55,213,051 | 58,891,864 | |||
| Net loss per ordinary share | |||||
| —Basic | (0.31 | ) | (0.23 | ) | |
| —Diluted | (0.31 | ) | (0.23 | ) | |
| Reconciliation of GAAP and Non-GAAP Results | |||||
| For the Six Months Ended June 30, 2024 | For the Six Months Ended June 30, 2025 | ||||
| US$ | US$ | ||||
| GAAP net loss attributable to ordinary shareholders | (17,011,716 | ) | (13,477,240 | ) | |
| Add back: | |||||
| Share-based compensation expenses | 2,477,108 | 2,030,335 | |||
| Non-GAAP net loss | (14,534,608 | ) | (11,446,905 | ) | |
| Weighted average number of ordinary shares used in per share calculation: | |||||
| —Basic | 55,213,051 | 58,891,864 | |||
| —Diluted | 55,213,051 | 58,891,864 | |||
| Non-GAAP net loss per ordinary share | |||||
| —Basic | (0.26 | ) | (0.19 | ) | |
| —Diluted | (0.26 | ) | (0.19 | ) | |
FAQ
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