Adagene Inc. Strikes Deal to Sell Depositary Shares

Adagene, Inc. (ADAG) has released an update.

Adagene Inc. has entered into a sales agreement with Leerink Partners LLC to issue and sell American Depositary Shares (ADSs), each representing 1.25 ordinary shares, through a time-to-time sales arrangement. The ADSs will be sold pursuant to a registration statement that became effective in May 2022, with sales parameters detailed in a prospectus supplement. This strategic move allows Adagene to potentially raise capital flexibly, depending on market conditions and their operational needs.

For further insights into ADAG stock, check out TipRanks’ Stock Analysis page.