ADARx Pharmaceuticals priced a $446.3 million initial public offering, continuing a wave of RNA-focused listings as the company positions its RNA interference platform for expansion beyond liver targets. The company sold more than 26 million shares at $17 each and starts trading on Nasdaq under ADRX after an upsized debut. ADARx’s lead program, onvuzosiran, is in late-stage testing for hereditary angioedema, with early data showing meaningful kallikrein reduction and a reported expectation of Phase 3 readouts in 2027. The company also has mid-stage programs including agazisiran for kidney diseases, geographic atrophy and paroxysmal nocturnal hemoglobinuria. Separately, reporting around the debut also noted AbbVie’s financial involvement through a private stock sale, reinforcing the strategy of coupling public-market capital with partner investment to support broader pipeline development.