ADARx Pharmaceuticals Raises $602.5 Million After Underwriters Exercise Full IPO Option

ADARx Pharmaceuticals, Inc. (Nasdaq: ADRX) announced it has raised total gross proceeds of approximately $602.5 million from its initial public offering and a concurrent private placement. The final amount was secured after the offering's underwriters fully exercised their option to purchase additional shares, according to a company statement on October 1, 2026.

Offering Details

The underwriters purchased an additional 3,937,500 shares of common stock at the IPO price of $17.00 per share. This action increased the total number of shares sold in the public offering to 30,187,500, yielding gross proceeds of approximately $513.2 million.

Separately, in a concurrent private placement, pharmaceutical company AbbVie purchased 5,255,542 shares, also at the $17.00 per share price. The company noted that the total proceeds figure is before deducting underwriting discounts, placement agent fees, commissions, and other offering expenses.

Underwriting and Regulatory Filing

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A syndicate of investment banks managed the public offering. The lead book-running managers included:

• J.P. Morgan
• Morgan Stanley
• TD Cowen
• UBS Investment Bank

LifeSci Capital also acted as a book-running manager for the deal. The registration statements related to the offering were filed with the U.S. Securities and Exchange Commission and became effective on September 24, 2026.