Adagene Inc.

Adagene Inc. (ADAG) priced its initial public offering on Feb 10, 2021 at $19.00 per ADS, and listed on Nasdaq Global Market. At the IPO price its market capitalization was about $1B. Goldman Sachs was lead-left underwriter, joined by Morgan Stanley and Jefferies. Davis Polk, Walkers and Tian Yuan advised the company and Latham & Watkins and Commerce & Finance advised the underwriters.

Adagene Inc. is a platform-driven, clinical-stage biopharmaceutical company developing antibody-based cancer immunotherapies. Its platform is designed to generate therapeutic antibody candidates with distinctive functions, and the company warns it could face delisting risk under the Holding Foreign Companies Accountable Act.

Status

IPO

Ticker

ADAG

Exchange

Nasdaq Global Market

Priced

Feb 10, 2021

IPO price

$19.00 per ADS

Market cap at IPO price

$1B

First filed

Jan 19, 2021

Underwriters

Goldman Sachs, Morgan Stanley and Jefferies

Company counsel

Davis Polk, Walkers and Tian Yuan

Underwriters' counsel

Latham & Watkins and Commerce & Finance

Sector

Biotech & pharma

Country / state

China

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.