Here are the S-1 registration statements from ADARx Pharmaceuticals, Inc. (ADRX) in our archive over the last 12 months, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
An S-1 covers the registration statement a company files to sell shares publicly, so if you follow ADRX and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full ADRX filings page.
ADARx Pharmaceuticals, Inc. is offering 21,875,000 shares of common stock in a preliminary IPO at an expected $15.00 to $17.00 per share; sales may begin only after the registration statement is declared effective. The offering is contingent on approval to list on The Nasdaq Global Select Market. Underwriters may purchase up to 3,281,250 additional shares under a 30-day option. Separately, AbbVie has agreed to buy shares in a concurrent private placement at the IPO price, capped at $100.0 million and structured to represent approximately 4.9% of post-closing common shares. At the assumed IPO size, AbbVie would buy 5,007,844 shares. The placement depends on the IPO closing; the IPO does not depend on the placement.
ADARx is developing siRNA therapeutics, with three clinical-stage and two advanced preclinical programs. For the six months ended June 30, 2026, it reported a net loss of $48.4 million, compared with $33.6 million for the six months ended June 30, 2025, and had $427.3 million in cash, cash equivalents and short-term investments as of June 30, 2026. The company says existing resources plus estimated net proceeds from the IPO and private placement are expected to fund projected expenses and capital expenditures into 2030 under current plans.
ADARx Pharmaceuticals, Inc. is registering common stock for an initial public offering, with proceeds to ADARx before expenses and the proposed sale to begin as soon as practicable after the registration statement is declared effective. ADARx has applied to list its common stock on The Nasdaq Global Market under ADRX; the offering is contingent on obtaining that approval. AbbVie Inc. separately agreed to buy shares at the public offering price in a concurrent private placement, capped at $100.0 million and targeting approximately 4.9% ownership after both closings. The placement depends on the IPO closing, but the IPO does not depend on the placement.
ADARx has three clinical-stage programs and two advanced preclinical programs. Under its May 2025 AbbVie collaboration, ADARx received $335.0 million upfront and may receive up to $385.0 million in option payments, up to $7.45 billion in contingent milestone payments, and tiered royalties at rates in the high single digits to mid-teens. For the six months ended June 30, 2026, collaboration revenue was $2.886 million and net loss was $48.426 million; cash, cash equivalents and short-term investments were $427.252 million as of June 30, 2026.