Diligence memo · auto-generated · as of July 2, 2026
ADARx Pharmaceuticals, Inc.
ADARx Pharmaceuticals, Inc. looks fair against its niche peers and is at-risk on financing cadence.
Businessfiled
ADARx Pharmaceuticals, Inc. operates in Pharmaceuticals, based in San Diego.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
ADARx Pharmaceuticals, Inc. has raised $353M in disclosed capital across 7 recorded rounds, aggregated from public filings. Its latest round is modeled as Series D+ (a $100M–$400M round).
Largest single filing: $200M on 2023-08-02.
Most recent recorded round closed around 2023-08-02.
Valuation (modeled)modeled
Provath models ADARx Pharmaceuticals, Inc. at approximately $2.8B (range $952M–$4.4B). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Fair. Modeled value is 1.48× the median modeled value of Series D+ Pharmaceuticals companies in 2022–2024 (18 peers) — value vs value, same stage and era. Within the normal band (148% of peer median) for its niche.
Financing rhythm & timingmixed
Historic cadence: a new round about every 7 months.
Last raise 2.9 yr ago; this sector typically re-raises about every 13 months.
Past due for a raise versus sector cadence — watch for distress or a bridge.
The last round stepped up 4.3× from the prior — scaling.
Comparablesmixed
Capital scale ranks ahead of 99% of Pharmaceuticals peers (1613 compared).
Modeled value ranks above 97% of those peers.
Closest niche peers: Paragon Biosciences Emalex Capital, Inc., TrialSpark, Inc., Fog Pharmaceuticals, Inc., MAPS Public Benefit Corp, Karyopharm Therapeutics Inc..
Peoplefiled
14 named people on file across officers, directors and signatories.
Risks & flagsmixed
Overdue for a raise versus sector norm — distress or bridge risk.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.