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Secondary marketplace / Explore private companies / ADARx Pharmaceuticals IPO
ADARx Pharmaceuticals

ADARx Pharmaceuticals IPO

$848.26M
Series C Valuation, Aug 2023
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ADARx Pharmaceuticals IPO date and status

2019
Founded
Sep 2026
S-1 Filed
Sep 2026
IPO Completed

Company details

ADARx Pharmaceuticals, founded in 2019 by Rui Zhu, Ph.D., is a late-clinical-stage biotechnology company based in San Diego, CA, that develops next-generation siRNA (small interfering RNA) therapeutics. The company applies proprietary siRNA chemistry and delivery technology designed to reduce the expression of specific disease-driving proteins. Its pipeline includes three clinical-stage siRNA programs that target a broad spectrum of diseases across genetic, cardiometabolic and central nervous system (CNS) conditions. The company has raised capital from prominent investors including AbbVie, Bain Capital Life Sciences, BlackRock, OrbiMed, T. Rowe Price and RedMile Group. In September 2026, Fierce Biotech reported that ADARx Pharmaceuticals filed for an initial public offering (IPO) on the Nasdaq to fund its clinical-stage siRNA pipeline. Publicly traded peers in RNA-based therapeutics include Alnylam Pharmaceuticals (ALNY), Ionis Pharmaceuticals (IONS) and Arrowhead Pharmaceuticals (ARWR). These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.

Founded
2019
Headquarters
San Diego, CA, United States
Founder
Rui Zhu Ph.D
Forge Price 1
Price not available
Market Activity 2
Limited
Last Matched Price
Post-Money Valuation 3
$848.26M
Total Funding
$352.5M
Last Funding Round
Series C

Learn more about ADARx Pharmaceuticals

To invest in ADARx Pharmaceuticals pre-IPO

Can you invest in ADARx Pharmaceuticals pre-IPO?

You may invest in ADARx Pharmaceuticals as it is a public company listed on the NASDAQ with ticker ADRX. But if you are an accredited investor interested in buying pre-IPO shares of a private company, you can learn more about how to invest in the private market or register today to get started.

Can you sell shares of ADARx Pharmaceuticals before it goes public?

You can no longer sell shares of ADARx Pharmaceuticals on Forge as this company is no longer private. However, if you own shares of a private company, Forge may be able to help you sell them in a way that works for you and the company. Learn more or register with us today to get started.

What is the pre-IPO value of my ADARx Pharmaceuticals shares?

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Is ADARx Pharmaceuticals a publicly traded company?

ADARx Pharmaceuticals became a public company following its IPO on 09/25/2026 and is now traded on the NASDAQ under the ticker ADRX.

To learn more about ADARx Pharmaceuticals potential IPO

Will ADARx Pharmaceuticals go IPO?

ADARx Pharmaceuticals became a public company following its IPO on 09/25/2026 and is now traded on the NASDAQ under the ticker ADRX.

What is ADARx Pharmaceuticals’ IPO price?

The IPO price of ADARx Pharmaceuticals is not currently available.

When was ADARx Pharmaceuticals founded?

ADARx Pharmaceuticals was founded in 2019.

What is ADARx Pharmaceuticals funding to date?

ADARx Pharmaceuticals has raised $352.5M to date.

ADARx Pharmaceuticals major investors

Ascenta Capital
Bain Capital Life Sciences
Lilly Asia Ventures
Orbimed
Sirona Capital
Sr One Capital Management
T. Rowe Price Associates
Tcg Crossover Management
Vivo Capital

ADARx Pharmaceuticals pre-IPO valuation and funding rounds

Funding history chart
Funding round and deals details
Funding Date Round Amount Raised Price per Share Post-Money Valuation 3 Key Investors
08/09/2023 Series C $200M $9.75 $848.26M Ascenta Capital, Bain Capital Life Sciences, Blackrock Holdings, Commodore Capital, Cormorant Asset Management, Hbm Healthcare Investments, Invus Capital, Lilly Asia Ventures, Marshall Wace, Orbimed, Redmile Group, Sr One Capital Management, Tcg Crossover Management, T. Rowe Price Associates, Venrock Healthcare Capital Partners, Vivo Capital
Price per Share
$ xx.xx
Shares Outstanding
20,515,872
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
0.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Ascenta Capital, Bain Capital Life Sciences, Blackrock Holdings, Commodore Capital, Cormorant Asset Management, Hbm Healthcare Investments, Invus Capital, Lilly Asia Ventures, Marshall Wace, Orbimed, Redmile Group, Sr One Capital Management, Tcg Crossover Management, T. Rowe Price Associates, Venrock Healthcare Capital Partners, Vivo Capital
01/20/2023 Series B-1 $46M $7.80 $484.32M Ascenta Capital, Lilly Asia Ventures, Orbimed, Sirona Capital, Sr One Capital Management
Price per Share
$ xx.xx
Shares Outstanding
5,900,272
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
0.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Ascenta Capital, Lilly Asia Ventures, Orbimed, Sirona Capital, Sr One Capital Management
09/08/2021 Series B $75M $6.00 $361.97M Lilly Asia Ventures, Orbimed, Sirona Capital, Sr One Capital Management
Price per Share
$ xx.xx
Shares Outstanding
12,506,015
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
0.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Lilly Asia Ventures, Orbimed, Sirona Capital, Sr One Capital Management
05/14/2021 Series A $31.5M $1.18 $52.5M Undisclosed Investors
Price per Share
$ xx.xx
Shares Outstanding
26,726,324
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
0.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Undisclosed Investors

ADARx Pharmaceuticals IPO news and media highlights

Independent IPO news coverage

Fresh off massive fundraising, ADARx preps 3rd clinical program and mulls IPO

2023 has been a banner year for San Diego-based siRNA biotech ADARx Pharmaceuticals, with two assets jumping to the clinic and $200 million brought in through one of the largest private financing rounds of the year. Next year could be even bigger, as ADARx collects early data on clinical programs that have caught the eye of investors and Big Pharmas. “The street has started to pay attention to us," CEO Zhen Li, Ph.D., told Fierce Biotech in an interview.

ADARx Pharmaceuticals Raises $200M in Series C Financing

ADARx Pharmaceuticals, Inc., a San Diego, CA-based clinical stage biotechnology company developing next generation RNA therapeutics, closed a $200m Series C financing. The round was led jointly by Bain Capital Life Sciences and TCGX and also included new investors Blackrock, Commodore Capital, Cormorant Asset Management, HBM Healthcare Investments, Invus, Marshall Wace, Redmile Group, T. Rowe Price Associates Inc., Venrock Healthcare Capital Partners, and Vivo Capital, as well as existing investors, Ascenta Capital, Lilly Asia Ventures, OrbiMed, and SR One Capital Management.

RNA biotech ADARx hauls in $200M, almost doubling 2 previous raises combined

Who says crossover rounds are dying? ADARx has raked in a $200 million series C, almost twice as much as the previous two joint series B rounds combined. The question now is, how quickly can the biotech's RNA pipeline be expanded? The new financing shared Wednesday will help ADARx advance two lead assets—ADX-324 and ADX-038—into the clinic, though more precise timing wasn’t disclosed. Since September 2021, the biotech had raised $121 from a series B and series B-1 round. The latter was announced in January, adding $46 million to ADARx’s bank.

ADARx Raises $75 Million to Advance Growing Pipeline

ADARx Pharmaceuticals, Inc., a biotechnology company developing RNA targeting therapeutics, today announced the completion of a $75 million Series B financing to advance its drug development pipeline. The Series B was co-led by SR One Capital Management and OrbiMed Advisors. Sirona Capital joined this financing as well as existing investors OrbiMed Advisors and Lilly Asia Ventures.

Private companies exploring an IPO

See which private companies are preparing for the public market. Register to get full access to the latest secondary market pricing data.

Sector: Healthcare
Subsector: Biotech & Pharma
Trade Metrics Last Funding Round
Company Forge Price Last Matched Round Post-Money Valuation 3 Price Per Share Amount Raised
OURAOURANot available$ xx.xxSeries E$11.36B$53.57$972.43M
Aspen NeuroscienceAspen NeuroscienceNot available$ xx.xxSeries C$350.82M$1.52$115.62M
Bambusa TherapeuticsBambusa TherapeuticsNot available$ xx.xxSeries A-2$532.63M$18.73$33.07M
OriginOriginNot available$ xx.xxNot available------
Affinia TherapeuticsAffinia TherapeuticsNot available$ xx.xxSeries C$156.61M$1.62$40M

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Updated on: Sep 29, 2026

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