ADARx priced a $446.3 million IPO, continuing a high-velocity biotech debut calendar. The RNA silencing company’s market entry also included an upsized offering tied to strong demand, with proceeds intended to advance clinical siRNA assets including onvuzosiran. A separate IPO-related item flagged City Therapeutics’ filing ambition following earlier alumni-driven RNAi efforts, reflecting investor appetite for targeted RNA platforms. With large public raises appearing alongside strategic licensing and platform deals, the market signal is that RNA and drug-delivery-enabled modalities remain investable even as clinical risk persists.