On September 24, 2026, ADARx Pharmaceuticals, a late-stage clinical biotechnology company developing next-generation siRNA therapeutics, announced the pricing of its upsized initial public offering (IPO) of 26,250,000 shares of common stock at $17.00 per share. All of the shares of common stock are being offered by ADARx. The shares began trading on the Nasdaq Global Select Market on September 25, 2026, under the ticker symbol “ADRX.”

In connection with the IPO, AbbVie has agreed to purchase, in a concurrent private placement exempt from the registration requirements of the Securities Act of 1933, a number of shares of ADARx’s common stock that would result in AbbVie owning approximately 4.9 percent of ADARx’s outstanding shares at a price of $17.00 per share. The private placement closed on September 28, 2026. Wilson Sonsini Goodrich & Rosati advised ADARx on IP matters related to the transactions.

The Wilson Sonsini team that advised ADARx includes Michael Hostetler, Minyoung Shin, and Uale Taotafa.

For more information, please see ADARx's news release. Additional coverage can be found on Reuters and Fierce Biotech.