ADARx Pharmaceuticals priced an upsized initial public offering at $446.3 million, marking a major IPO milestone for RNA interference therapeutics. The company sold 26.3 million shares at $17 apiece (top of range), and its market debut followed demand that drove a higher offering size. ADARx is backed by development partner AbbVie through a separate private placement. The IPO funds are expected to support progression of its clinical-stage siRNA programs, including onvuzosiran for hereditary angioedema and agazisiran in kidney-related and other indications. The report also positions the listing as part of a broader 2026 fundraising surge for RNA-focused companies. For biotech investors, the deal reflects continued willingness to underwrite platform risk in RNA therapeutics, where delivery and potency remain critical hurdles but where clinical-stage catalysts can rapidly change perceived probability of success.