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Adagene Inc. develops antibody-based cancer immunotherapies as a Nasdaq-listed foreign issuer whose securities trade as ADSs under ADAG. The company uses computational biology and artificial intelligence through its proprietary Dynamic Precision Library platform, including NEObody, SAFEbody and POWERbody technologies, to design masked and engineered antibody programs.
Recurring company updates center on muzastotug (ADG126), a masked anti-CTLA-4 SAFEbody, clinical data in microsatellite stable colorectal cancer and hepatocellular carcinoma, combination studies with checkpoint and bispecific therapies, and FDA Fast Track designation in MSS metastatic colorectal cancer. Other developments include scientific meeting presentations, SAFEbody collaborations and licensing, advisory board changes, financial results and ADS capital offerings.
Adagene Inc. (Nasdaq: ADAG) has successfully closed its initial public offering (IPO) of 8,457,100 American depositary shares (ADSs) priced at $19.00 each, raising approximately $161 million in gross proceeds. This includes the full exercise of the underwriters’ option for an additional 1,103,100 ADSs. The ADSs began trading on February 9, 2021. The company focuses on developing antibody-based cancer immunotherapies using advanced technologies. Goldman Sachs, Morgan Stanley, and Jefferies acted as joint bookrunners for the offering.
Adagene Inc. (Nasdaq: ADAG) has priced its initial public offering (IPO) at US$19.00 per American depositary share (ADS), raising approximately US$140 million. The IPO consists of 7,354,000 ADSs and will begin trading on February 9, 2021. The offering will close on February 11, 2021, pending customary conditions. Underwriters have a 30-day option to purchase an additional 1,103,100 ADSs for over-allotments. Goldman Sachs, Morgan Stanley, and Jefferies are the lead underwriters of this offering.