Monitor the IPO pricing and lock-up expiration for potential selling pressure from this large pre-IPO holder. OrbiMed's board seat suggests ongoing influence over strategic direction.
Price Chart
Executive Summary
OrbiMed Advisors LLC and affiliated entities filed a Form 3 initial statement of beneficial ownership for ADARx Pharmaceuticals, Inc. (ADRX), disclosing aggregate beneficial ownership of shares convertible into approximately 21.6 million shares of common stock (on an as-converted basis) across multiple funds. The filing is a routine initial ownership report triggered by the company's upcoming IPO, confirming OrbiMed's significant pre-IPO stake and board representation via Carl L. Gordon.
Key Facts
- OrbiMed Advisors LLC and affiliates filed Form 3 for ADARx Pharmaceuticals, Inc. (ADRX) on 2026-09-24.
- OrbiMed entities report beneficial ownership of shares convertible into common stock: 10,690,530 (OPI VII), 7,127,019 (OIP II), 2,000,962 (OPI VII), 1,333,975 (OIP II), 769,601 (OPI VII), 513,067 (OIP II), 564,187 (OPI VII), 256,448 (OIP II) — total ~21,635,589 shares on an as-converted basis.
- Conversion ratio for all preferred stock series (Series A, B, B-1, C) is 1-for-1.1717 into common stock upon IPO closing.
- Carl L. Gordon, a member of OrbiMed Advisors, serves on ADARx's board of directors.
- The filing is an initial statement of beneficial ownership (Form 3) filed in connection with ADARx's upcoming IPO.
Financial Impact
OrbiMed entities hold ~21.6 million shares (as-converted) in ADARx, representing a significant pre-IPO ownership stake. No dollar value disclosed.
Risk Factors
- Post-IPO lock-up expiration could lead to significant share overhang if OrbiMed reduces its position.
- No financial data or operational metrics disclosed in this filing — fundamental risk assessment requires the IPO prospectus.
Investment Themes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 3 Filing (Primary) | 0000947871-26-000882 |
| Document: 0000947871-26-000882-index.html | 0000947871-26-000882 |
| Document: 0000947871-26-000882.txt | 0000947871-26-000882 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 16, 2026 9d ago | SC 13G | $17.63 $17.68 | ▲ +0.28% | ▼ −0.05% | $17.63 (−0.00%) |
Oct 5, 2026 20d ago | SC 13D | $18.58 $17.33 | ▼ −6.73% | ▼ −6.49% | $17.63 (−5.11%) |
Oct 2, 2026 23d ago | SC 13D | $19.05 $18.58 | ▼ −2.47% | ▼ −3.02% | $17.63 (−7.45%) |
Oct 1, 2026 24d ago | Press Release | $18.25 $19.05 | ▲ +4.38% | ▲ +3.71% | $17.63 (−3.40%) |
Oct 1, 2026 24d ago | SC 13G | $18.25 $19.05 | ▲ +4.38% | ▲ +3.71% | $17.63 (−3.40%) |
Sep 30, 2026 25d ago | Insider Cluster | $19.54 $18.25 | ▼ −6.60% | ▼ −7.34% | $17.63 (−9.77%) |
Sep 29, 2026 26d ago | Insider Cluster | $19.94 $19.54 | ▼ −2.01% | ▼ −2.18% | $17.63 (−11.58%) |
Sep 29, 2026 26d ago | Insider Buy | $19.94 $19.54 | ▼ −2.01% | ▼ −2.18% | $17.63 (−11.58%) |
Sep 25, 2026 4w ago | 424B4 | $20.09 $20.64 | ▲ +2.71% | ▲ +2.90% | $17.63 (−12.24%) |
Sep 25, 2026 4w ago | EFFECT | $19.35 $20.09 | ▲ +3.82% | ▲ +4.57% | $17.63 (−8.89%) |
US Market Status
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