ADARx Pharmaceuticals IPO: revenue, losses and offering terms from its S-1
ADARx Pharmaceuticals priced its IPO at $17 a share on 28 Sep 2026 and raised $446 million. Its shares trade on Nasdaq as ADRX. Revenue was $3.4 million in 2025, with a net loss of $73.1 million.
Headlines
- Revenue, 2025
- $3M
- Net loss, 2025
- $73M
- Revenue, First half of 2026
- $3M
- Up 14 times on a year earlier
- IPO price
- $17
- $446M raised
ADARx Pharmaceuticals IPO terms
From the final prospectus (424B4).
- Exchange
- The Nasdaq Global Select Market
- Ticker
- ADRX
- IPO price
- $17
- Shares offered
- 26,250,000
- Raised
- $446M
- Registered
- $428M, the amount the filing fee is paid on
- Underwriters
- J.P. Morgan, Morgan Stanley, TD Cowen, UBS Investment Bank and LifeSci Capital
- First filed
- 4 Sep 2026
ADARx Pharmaceuticals revenue and profit
| Period | Revenue | Operating income | Net income |
|---|---|---|---|
| 2025 | $3M | -$88M | -$73M |
| First half of 2025 | $208,000 | - | - |
| First half of 2026 | $3M | -$57M | -$48M |
ADARx Pharmaceuticals share structure and company facts
- Employees
- 100
- Headquarters
- San Diego, California
ADARx Pharmaceuticals shares since the IPO
Latest close 26 Oct 2026
- IPO price
- $17
- Priced 28 Sep 2026
- First close
- $20.09
- +18% on the IPO price
- Latest close
- $17.81
- +5% on the IPO price
ADARx Pharmaceuticals' IPO filings
The registration statement, each amendment and the final prospectus, oldest first.
About the data
- Terms and financials are read from ADARx Pharmaceuticals' newest prospectus (424B4 filed 28 Sep 2026) by a Kadoa workflow. Check figures that matter against the filing.
- Registered is the amount the filing fee is paid on, often a placeholder before the price range is set.
- Raised is the IPO price times the shares sold, without the underwriters' option. Trading compares the first and latest close with the IPO price.