Adagene prices $70 million public offering at 30-day average

Adagene Inc. (Nasdaq: ADAG) on Thursday announced the pricing of its public offering of 18,666,000 American depositary shares at $3.75 apiece, totaling approximately $70 million in gross proceeds.

The offering price represents the 30-day volume-weighted average price of the company’s shares. Each ADS represents 1.25 of the company’s ordinary shares. The offering is expected to close on or about April 8, 2026, subject to customary closing conditions.

The company plans to use the net proceeds from the offering to fund its clinical trials, research and development activities, and for general corporate purposes. The infusion of capital is expected to support the advancement of its antibody-based therapies.

The public offering will increase the number of Adagene's shares outstanding, which will result in dilution for existing shareholders. The market reaction to the offering will be a key indicator of investor confidence in the company's long-term prospects. Adagene's next major catalyst will be the release of its next quarterly earnings report.

This article is for informational purposes only and does not constitute investment advice.