ADARx Pharmaceuticals priced an upsized $446.3 million Nasdaq IPO, signaling continued momentum for RNA-focused biotech going public. The company sold more than 26 million shares at $17 each and will trade on Nasdaq under the ticker ADRX, while also securing about $89 million through a private stock sale tied to development partner AbbVie. ADARx is an RNA interference (RNAi) specialist whose lead program, onvuzosiran, is in late-stage testing for hereditary angioedema. The company’s IPO materials describe delivery and potency constraints as challenges for the category, while its pipeline includes multiple liver and non-liver targets. For the sector, the debut underscores investor demand for mechanistically differentiated RNA platforms—particularly those tied to credible clinical endpoints and partnering validation.