ADARx Soars 30% in Debut After $446M Upsized IPO; AbbVie Takes 4.9% Stake
ETRA is trading near its 52-week low of $11.27 (3.2% above the low) on light trading volume (0.1× avg).
Summary
ADARx Pharmaceuticals priced its IPO at $17, above the marketed range, raising $446.3 million after upsizing the deal to 26.3 million shares. Shares opened at $22.10 and rose 30% in early trading, signaling strong investor demand for the late-stage gene therapy developer. AbbVie agreed to invest up to $100 million in a concurrent private placement, taking a roughly 4.9% post-IPO stake, which adds strategic validation. The company's lead candidate, onvuzosiran, is in late-stage testing for hereditary angioedema. This follows Electra Therapeutics' $350 million IPO last week, which has since fallen about 21%, highlighting the mixed performance of recent biotech listings.
At the time of this announcement, ETRA was trading at $11.63 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $730M. The 52-week trading range was $11.27 to $15.50. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.