Adagene (ADAG) IPO Opens Modestly Higher

Today's IPO for Adagene Inc. (NASDAQ: ADAG) opened for trading at $20.40 after priding 7,354,000 American depositary shares ("ADSs"), at US$19.00 per ADS.

Goldman Sachs (Asia) L.L.C., Morgan Stanley & Co. LLC and Jefferies LLC are acting as the joint bookrunners of the offering and representatives of the underwriters. China Renaissance Securities (Hong Kong) Limited is acting as co-manager of the offering.

Adagene Inc. is a platform-driven, clinical-stage biopharmaceutical company committed to transforming the discovery and development of novel antibody-based cancer immunotherapies. Adagene combines computational biology and artificial intelligence to design novel antibodies that address unmet patient needs. Its proprietary pipeline is comprised of novel immunotherapy programs. Adagene has forged strategic collaborations with reputable global partners that leverage its technology in multiple approaches at the vanguard of science.

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