ADARx Pharmaceuticals priced an upsized initial public offering on Nasdaq, raising $446.3 million at $17 per share and adding an AbbVie investment alongside the launch. The IPO marks a key milestone for RNA interference therapeutics as the public markets reward late-stage, product-focused platforms. The company’s proceeds are slated to advance development of its siRNA programs, including onvuzosiran for hereditary angioedema and agazisiran for complement-mediated diseases and other investigational indications. The pipeline also spans additional candidates targeting kidney disease, geographic atrophy and neurologic disorders, extending beyond traditional liver-only RNAi paradigms. ADARx additionally secured private financing from AbbVie, building on prior collaboration activity. The dual-track approach—public cash plus strategic partner backing—underscores how large pharma continues to underwrite RNA modalities where clinical differentiation is the priority. With ADARx beginning trading as ADRX, the offering is expected to feed investor attention into delivery improvements and potency optimization—areas that have historically limited RNAi reach outside the liver.