ADARx Pharmaceuticals (NASDAQ:ADRX) Major Shareholder Buys $27,200,000.00 in Stock

ADARx Pharmaceuticals, Inc. (NASDAQ:ADRX) major shareholder Sr One Capital Management, Llc bought 1,600,000 shares of the business’s stock in a transaction dated Monday, September 28th. The shares were bought at an average cost of $17.00 per share, for a total transaction of $27,200,000.00. Following the transaction, the insider owned 5,554,094 shares in the company, valued at approximately $94,419,598. The trade was a 40.46% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

ADARx Pharmaceuticals Trading Down 2.0%

NASDAQ:ADRX opened at $19.54 on Friday. ADARx Pharmaceuticals, Inc. has a fifty-two week low of $18.50 and a fifty-two week high of $23.21.

About ADARx Pharmaceuticals

ADARx Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing RNA-based medicines for immune-mediated and other serious diseases. The company is headquartered in San Diego, California, and uses proprietary technologies designed to modulate disease-related proteins at the RNA level.

ADARx’s pipeline includes investigational therapies intended to address conditions involving the complement system, coagulation pathways and other biologic mechanisms. Its programs are designed to provide targeted, durable treatment through approaches such as RNA interference and related forms of RNA-based therapeutic intervention.

Founded in 2018, ADARx has advanced its drug candidates through preclinical and clinical development and has pursued regulatory and clinical activities in the United States and other international markets.