Adagio Therapeutics Sets Terms For Over $300M IPO

by Vandana Singh, Benzinga Editor

August 2, 2021 1:00 PM | 1 min read |

Adagio Therapeutics ADGI has set terms for the IPO, looking to raise well north of $300 million if they hit the top of the $16 to $18 range.
Since its inception in 2020, the Company has raised $470 million from some high-profile investors.
At the midpoint, the valuation sits right around $2 billion.
The Company earlier filed to raise $100 million via IPO.
As per the S-1/A, the Company has earmarked approximately $545.0 million to fund clinical development, manufacturing supply, and initial commercialization costs for ADG20, its COVID-19 antibody candidate.

Posted In: Biotech News Health Care Offerings IPOs General Briefs

Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.