ADARx Pharma prices upsized $446.3 million IPO

San Diego, USA-based clinical-stage biotech ADARx Pharmaceuticals (Nasdaq: ADRX) has announced the pricing of its upsized initial public offering (IPO) of 26,250,000 shares of common stock at a price to the public of $17.00 per share.

All of the shares of common stock are being offered by ADARx. The gross proceeds to ADARx from the offering, before deducting underwriting discounts and commissions and offering expenses payable by ADARx, are expected to be approximately $446.3 million. In addition, the underwriters have a 30-day option to purchase up to an additional 3,937,500 shares of common stock at the public offering price, less underwriting discounts and commissions.