Adagene Inc.'s SEC filings document its foreign-private-issuer reporting for a clinical-stage biotechnology company developing antibody-based cancer immunotherapies. Form 6-K reports furnish clinical-data releases for muzastotug, regulatory updates for MSS colorectal cancer development, full-year financial results, business updates and notices of scientific presentations.
The filings also cover capital-structure and financing matters, including ADS offerings, underwriting agreements and the ADS-to-ordinary-share relationship. Other disclosures include licensing and collaboration agreements using SAFEbody technology, share-based compensation and equity accounts, governance updates, clinical development risks and exhibits furnished under Exchange Act reporting rules.
Adagene Inc. director Zhu Li received a grant of 20,000 nonqualified stock options on August 13, 2026 under the Adagene Inc. 2021 Performance Incentive Plan. The options have an exercise price of $3.00 per ordinary share, expire on August 13, 2036, and increase Li’s directly held option position to 90,000 options.
According to the grant terms, the options will vest on April 30, 2027 or on the date of the next Form 20-F filing, whichever occurs earlier, tying vesting to a specific future company reporting milestone.
Adagene Inc. director Cheung Andy Yiu Leung received a grant of 20,000 nonqualified stock options on August 13, 2026 under the Adagene Inc. 2021 Performance Incentive Plan. The options have a $3.00 per-share exercise price, expire on August 13, 2036, and will vest on April 30, 2027 or the date of the next annual 20-F filing, whichever is earlier. Following this award, Cheung holds 90,000 options in total. The Rule 10b5-1 checkbox was not marked as being under a trading plan.
Adagene Inc. director Do Cuong V received a grant of 20,000 nonqualified stock options on August 13, 2026 under the Adagene Inc. 2021 Performance Incentive Plan. The options have an exercise price of $3.00 per ordinary share and expire on August 13, 2036. They vest on April 30, 2027 or the date of the next Form 20-F filing, whichever is earlier. Following this award, the reporting person holds a total of 110,000 derivative securities related to Adagene ordinary shares.
Adagene Inc. received an amended Schedule 13G from WuXi PharmaTech Healthcare Fund I L.P. and its indirect parent WuXi AppTec Co., Ltd., reporting passive ownership of Adagene’s ordinary shares. The Reporting Persons state they are not acting as a group. As of June 30, 2026, PharmaTech beneficially owned 2,891,594 ordinary shares, held in the form of 2,313,275 American Depositary Shares (ADS). Each ADS represents 1.25 ordinary shares. WuXi AppTec is the ultimate beneficial owner of PharmaTech and shares voting and investment authority over these shares. This position represents 3.5% of Adagene’s ordinary shares, based on 82,564,493 ordinary shares outstanding (including in ADS form) as of April 6, 2026. The filing confirms that the Reporting Persons have shared, but not sole, voting and dispositive power over the reported shares and now own 5% or less of this class.
Adagene Inc. reported that director Ulf Grawunder received a grant of 20,000 nonqualified stock options on 2026-08-13. The options carry an exercise price of $3.00 per ordinary share and expire on 2036-08-13. Following this grant, Grawunder holds 85,000 options in total, and the transaction is indicated as made under a Rule 10b5-1 trading plan.
Adagene Inc. reported interim results for the six months ended June 30, 2026, highlighting progress in its lead immunotherapy program muzastotug (ADG126) and strengthened liquidity. Muzastotug continues in multiple Phase 1b/2 and Phase 2 trials across microsatellite stable colorectal cancer and hepatocellular carcinoma, including triple-combination regimens and a global basket study with a next-generation IO agent under a Sanofi collaboration.
Cash and cash equivalents rose to US$127.9 million from US$74.5 million at December 31, 2025, driven by an April 2026 underwritten equity offering and an at-the-market program; management expects runway into late 2028. Total borrowings from PRC commercial banks declined to US$5.7 million. Net revenue reached US$1.6 million, all from licensing and collaboration, versus zero a year earlier.
Operating spend increased as R&D expenses grew to US$14.0 million and administrative expenses to US$4.2 million. GAAP net loss attributable to shareholders widened to US$16.4 million, with non-GAAP net loss of US$14.2 million. Ordinary shares outstanding were 83,929,180 as of June 30, 2026; each ADS represents 1.25 ordinary shares.
Adagene Inc. director and Chief Executive Officer Peter Luo reported open-market purchases of a total of 23,245 American Depositary Shares (ADS). On 2026-08-04, he bought 22,966 ADS at an average price of $3.6465 per ADS, with individual trades between $3.62 and $3.65. On 2026-08-05, he purchased a further 279 ADS at $3.65 per ADS. The filing also reports 112,500 Restricted Stock Units (RSUs) granted under the Adagene Inc. 2021 Performance Incentive Plan, with 56,250 RSUs scheduled to vest on each of 7/23/2027 and 7/23/2028. These trades were not flagged as made under a Rule 10b5-1 trading plan.
Adagene Inc., a biotechnology company listed as a foreign private issuer, reported that it held US$127.9 million in unaudited cash and cash equivalents as of June 30, 2026. This figure is described as preliminary, unaudited and subject to finalization.
The company emphasized that this cash information is not a substitute for full audited financial statements prepared under US GAAP and is not incorporated by reference into its other U.S. SEC filings. The update simply provides investors with an early view of Adagene’s liquidity position.
Adagene, Inc. received an amended Schedule 13D showing updated major shareholder positions and estate planning transfers. Peter Luo is reported to beneficially own 6,242,998 ordinary shares, representing 7.09% of the class, including shares and options held by him and members of the Peter Luo-Acting-in-Concert-Group.
The HAN 2020 Irrevocable Trust holds 9,390,439 ordinary shares, representing 11.20% of the class. These percentages are based on 83,832,157 ordinary shares outstanding as of May 31, 2026. On May 23, 2025, Luo and Xiaohong She received shares from Great Han Fortune LP and then transferred them to the HAN 2020 Irrevocable Trust for estate planning purposes.
The filing reiterates the concert party agreement among members of the Peter Luo-Acting-in-Concert-Group regarding coordinated voting and recognition of Luo’s controlling position. It also notes that, after a December 19, 2024 change of trustee to North Point Trust Company, beneficial ownership of the HAN 2020 Irrevocable Trust is no longer attributed to Luo or She.
Adagene Inc. ownership amendment: WuXi PharmaTech Healthcare Fund I L.P. and its parent WuXi AppTec Co., Ltd. report beneficial ownership of 3,485,038 ordinary shares (held as 2,788,030 ADS) representing 5.9% of shares as of March 31, 2026. The percentage is calculated using 59,231,993 ordinary shares outstanding as of December 31, 2025, per the issuer's Form 20-F.
This Schedule 13G/A clarifies voting and dispositive power: the filings show shared voting and shared dispositive power over the reported shares and state that AppTec Co. is the indirect parent and ultimate beneficial owner of PharmaTech.