ADARx Pharmaceuticals made its trading debut after a $535M public listing, supported by an upsized IPO and additional cash from a private placement with partner AbbVie. The company’s lead program, onvuzosiran, is in Phase 3 testing for hereditary angioedema. The financing underscores continued investor appetite for RNA therapeutics platforms with late-stage clinical programs and credible partner validation. For ADARx, the immediate priority will be funding execution across the Phase 3 readout timeline and advancing the broader pipeline. From a sector perspective, the IPO suggests capital markets are rewarding RNA mechanism differentiation and milestone proximity, while expecting clear clinical development and regulatory pathways from early-stage and platform-focused companies.