Last updated
Revenue
R&D Expenses
Operating CF
Total Assets
Total Liabilities
Equity
Shares Out.
D/E Ratio
Dilution Watch
Financials
52W LOW $1.3052W HIGH $4.85
Volume
1.56 K
Value Traded
2.29 M
Short % Float
3.84%
-2.46%Week
-14.98%1 Month
-29.44%3 Month
-26.84%6 Month
-71.46%5 Year
-81.62%All Time
Cash Data
- Monthly Burn
- Burn Trend
- Dilution Risk
- SEC Filing
Key Stats
Market Cap
191.36 M
EPS (TTM)
-0.37
P/E Ratio
-
Ent. Value
108.93 M
Total Shares
67.14 M
Float Shares
54.73 M
Insiders
18.49%
Institutions
18.74%
Upcoming Catalysts
FDA decisions, readouts and PDUFA dates · scored by probability of approval
ADAG Catalyst Timeline
Dated clinical, regulatory and corporate events for Adagene Inc.
Catalyst Timeline
Dated clinical, regulatory & corporate events for Adagene Inc.
299Total events
10Upcoming
47Tier-1 (high impact)
2020 to 2028Coverage
Upcoming catalysts 2
Event history 50
▲Development Candidate NominationPreclinical
Third Arc Bio selects first lead candidate under amended strategic collaboration
▲Partnership / LicenseCorporate
Adagene and Third Arc Bio amend strategic collaboration to broaden scope and increase potential payments
▲Milestone PaymentXB404Corporate
$2.0 million milestone payment from Exelixis for XB404 preclinical milestone
ROR1/2-expressing tumorssource ↗
▲Milestone PaymentCorporate
Additional payment triggered by selection of candidates for another SAFEbody ADC program
▲Preclinical PoCXB404Preclinical
Preclinical milestone achieved for XB404 SAFEbody ADC under Exelixis collaboration
ROR1/2-expressing tumorssource ↗
▲Trial InitiationADG126Trial
Initiated dosing in global Phase 1/2 basket trial with Sanofi
advanced solid tumorssource ↗
▲Partnership / LicenseADG126Corporate
Clinical collaboration with Incyte established
3L MSS CRCsource ↗
◆IND Enabling CompleteXB404Preclinical
IND-enabling studies ongoing for XB404
ROR1/2-expressing tumorssource ↗
▲Enrollment CompleteADG126Trial
Enrollment into randomized Phase 2 trial well on-track
MSS CRCsource ↗
▲Enrollment UpdateADG126Trial
Enrollment into randomized Phase 2 trial well on-track
microsatellite stable colorectal cancer (MSS CRC)source ↗
◆Oral PresentationPresentation
One-on-one meetings at Jefferies LLC Global Healthcare Conference
◆Poster PresentationADG126Presentation
Poster presentation at AACR 2026: Ph1b evaluation of ADG126 + pembrolizumab + fruquintinib in MSS CRC
advanced and metastatic microsatellite stable colorectal cancersource ↗
▲Poster PresentationADG126Presentation
Poster presentation at AACR 2026 for triple combination muzastotug + pembrolizumab + fruquintinib in MSS CRC
microsatellite stable colorectal cancersource ↗
▲Management ChangeCorporate
Peter Lebowitz appointed to Scientific and Strategic Advisory Board
▲Partnership / LicenseCorporate
Clinical collaboration with Incyte to evaluate muzastotug + INCA33890 in MSS CRC
▲Oral PresentationADG126Presentation
Data presented at AACR from triple combination with pembrolizumab and fruquintinib
advanced or metastatic MSS CRCsource ↗
▲Preclinical PoCXB404Preclinical
Preclinical data presented at AACR for XB404
ROR1/2-expressing tumorssource ↗
◆Topline ReadoutADG126Clinical Data
Updated topline Phase 1b/2 clinical data expected over the next few months
MSS mCRCsource ↗
▲Runway Guidance UpdateCorporate
Cash balance of approximately US$110 million funds operations into 2026
●Quarterly UpdateCorporate
Year-end 2025 unaudited cash and cash equivalents of $74.5 million
▲Fast Track DesignationADG126Designation
FDA Fast Track Designation for muzastotug in combination with pembrolizumab
microsatellite stable metastatic colorectal cancer (MSS mCRC) without liver metastasessource ↗
▲FDA Feedback ReceivedADG126FDA Meeting
FDA meeting confirmed Phase 2 and Phase 3 trial designs and endpoints
MSS mCRCsource ↗
▲Partnership / LicenseCorporate
Licensing agreement with Third Arc Bio for two masked CD3 T cell engagers using SAFEbody technology
◆Timing GuidanceADG126Presentation
Additional updates from ongoing Phase 1b/2 trial anticipated in coming months
microsatellite stable colorectal cancer (MSS CRC) with no liver metastasessource ↗
▲Partnership / LicenseCorporate
Adagene and Third Arc Bio establish strategic licensing agreement
▲First Patient DosedADG126Trial
First patient dosed in randomized Phase 2 dose optimization cohort of muzastotug + pembrolizumab in MSS CRC
microsatellite stable colorectal cancer (MSS CRC) with no liver metastasessource ↗
▲Partnership / LicenseCorporate
Adagene expands SAFEbody collaboration with Exelixis to develop third masked ADC
◆Oral PresentationADG126Presentation
Updated ADG126-P001 Phase 1b/2 Results of ADG126 + Pembrolizumab in Advanced MSS CRC
Advanced MSS CRCsource ↗
◆Oral PresentationPresentation
Adagene to participate in H.C. Wainwright 27th Annual Global Investment Conference
▲FDA Feedback ReceivedADG126FDA Meeting
Alignment with FDA on Phase 2 and Phase 3 trial design elements
MSS CRCsource ↗
▲Type B MeetingADG126FDA Meeting
FDA Type B (End of Phase 1) meeting outcome: alignment gained on Phase 2 design
microsatellite stable colorectal cancersource ↗
▲Enrollment CompleteADG126Trial
Completed patient enrollment for MSS CRC dose expansion cohorts
microsatellite stable colorectal cancersource ↗
▲Partnership / LicenseCorporate
Partnership with ConjugateBio to provide proprietary antibody for bispecific ADC development
◆Trial InitiationADG126Trial
Expects to begin enrolling patients in Phase 2 in 2H 2025
microsatellite stable colorectal cancersource ↗
▲Partnership / LicenseCorporate
Sanofi makes up to $25M strategic investment in Adagene and exercises option on third SAFEbody discovery program
Past FDA Catalysts and PDUFA Decisions
How ADAG actually traded into and out of each decision
| Date | Drug | Catalyst | Stage | Reaction | Event Move % | Best Trade % |
|---|---|---|---|---|---|---|
| 2026-04-20 | Muzastotug (ADG126: masked anti-CTLA-4 Ab) | Phase 1b/2 data readout | Phase 1b/2 |
Reaction: 30 trading days around the event · Event Move: close to close on decision day · Best Trade: peak run-up from entry 10 days before the decision
Drug Pipeline Intelligence
D30 / 100
Pipeline Score
$72M
Pipeline Value
Overvalued
Valuation Signal
5
Drugs Scored
0.4x
rNPV / MCap
Top 68%
Micro Cap(rank 448 of 658)
Percentile Rank
Adagene Inc. faces pipeline headwinds (30/100), with $886M risk-adjusted pipeline value, led by ADG126 Mono in Advanced/Metastatic Solid Tumors (Phase 1).
| Drug | Indication | Phase | PTRS | rNPV | Status | Enroll | Velocity | Design | Est. Completion | ML Signal | Last Change |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ADG126 Mono Monoclonal antibodyCompletedNCT04645069 | Advanced/Metastatic Solid Tumors | Phase 1 | COMPLETED | 58 | May 17, 2024 |
Clinical Trial Results
Readouts, endpoints and source filings for every ADAG program
| Drug Name | Indication | Phase | Date | Trial Results Summary | Title | Source |
|---|---|---|---|---|---|---|
| muzastotug Fast Track | hepatocellular carcinoma | Phase 1b/2 | 2026-04-17 | The triple combination of muzastotug (6 mg/kg Q6W), atezolizumab, and bevacizumab achieved a 66.7% overall response rate (ORR; 4/6) with a median progression-free survival (mPFS) of 8.2 months in a Phase 1b/2 trial for hepatocellular carcinoma patients.Read More | Adagene Presents Two Posters at AACR 2026 with New Data Highlighting Muzastotug's Potential as a Backbone Combination Therapy for Multiple Tumor Types Triple combination of muzastotug + atezolizumab + bevacizumab resulteRead More |
Inside Trades
| Insider | Side | Shares | Price | Value | Date |
|---|---|---|---|---|---|
| Tam Man KinDirector, Officer (Chief Financial Officer) | Buy | 2,000 12,000 held | $3.00 | 09/23/2026 |
Hedge Fund 13F Activity
Hedge Funds invested in ADAG
| Fund | % of Portfolio | Current MV | Shares Owned | Activity |
|---|---|---|---|---|
| ORBIMED ADVISORS LLC | 0 % | 2.12 M | 263.18 K | -4.3% ( -11.82 K) |
ADAG Institutional Ownership Trends
Options Data
Option Volume
Open Interest
Call OI
Put OI
Put-Call Ratio
OI 30-day avg
Today vs avg
Option Volume
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Put Vol
Put-Call Ratio
Vol 30-day avg
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Option Chain Statistics
| Expiry | Call Vol | Put Vol | Vol P/C | Call OI | Put OI | OI P/C | IV Call | IV Call OI-Wtd | IV Call Vol-Wtd | IV Put | IV Put OI-Wtd | IV Put Vol-Wtd |
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| Last | Vol | OI | Last | Vol | OI | |
| No data available | ||||||
Calls vs Puts by Expiry
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Competitive positioning
How ADAG ranks across every disease it competes in
Competitive Position is a premium feature
See how ADAG ranks against every competitor across each disease it develops in: phase, best drug, trials and likelihood of approval.
Start free trialADAG News
ADAGAdagene Announces NMPA Clearance of Investigational New Drug Application for ADG138, a Novel HER2xCD3 Double-Masked Bispecific T-Cell Engager
Adagene has received NMPA clearance for its investigational new drug ADG138, a novel HER2xCD3 bispecific T-cell engager. The Phase 1 study is set to begin in China in Q4 2026, focusing on patients with advanced solid tumors. Preclinical results indicate ADG138's potential for effective tumor regression and reduced systemic toxicity, particularly in Enhertu-resistant models.
Read more →ADAGAdagene Announces that Third Arc Bio Has Selected First Lead Candidate under Amended Strategic Collaboration for Development of Masked CD3 T Cell Engagers Utilizing SAFEbody® Technology
Adagene Inc. announced that Third Arc Bio has selected its first lead candidate under an amended strategic collaboration. This partnership, which utilizes Adagene's innovative SAFEbody technology, has expanded its scope, leading to increased potential payments for Adagene. The collaboration aims to develop novel cancer therapies while Adagene retains rights for commercialization in specific regions.
Read more →ADAG▼ -6.3%on this newsshared move
Adagene Achieves Milestone in Collaboration with Exelixis for Advancement of SAFEbody® Antibody-Drug Conjugate Candidates
Adagene Inc. has announced a milestone achievement in its collaboration with Exelixis, resulting in a $2 million payment. This milestone is related to the preclinical development of XB404, an antibody-drug conjugate utilizing Adagene's SAFEbody technology. The partnership allows Exelixis to leverage Adagene's platform for developing masked monoclonal antibodies. Adagene is also set to receive additional milestones and royalties on product sales.
Read more →ADAGAdagene to Participate in Three Upcoming Investor Conferences
Adagene Inc. will participate in three upcoming investor conferences in New York, showcasing its advancements in antibody-based therapies. The conferences include the Cantor Global Healthcare Conference, Morgan Stanley Global Healthcare Conference, and H.C. Wainwright Investment Conference. Adagene's lead program, muzastotug, is currently in clinical studies and has received FDA Fast Track designation.
Read more →ADAGAdagene Reports Six Months 2026 Financial Results and Provides Corporate Updates
Adagene Inc. reported its financial results for the first half of 2026, highlighting significant advances in its lead program, muzastotug. The company is conducting various clinical trials, including a Phase 2 trial in microsatellite stable colorectal cancer, with promising results. Adagene's cash reserves of $127.9 million are expected to support operations until late 2028, while collaborations with major partners are enhancing the development of its therapies.
Read more →ADAGAdagene to Participate in Two Upcoming Investor Conferences
Adagene Inc. has announced its participation in two upcoming investor conferences, the Stifel Annual Virtual Oncology Event and the Jefferies LLC Global Healthcare Conference, scheduled for May and June 2026, respectively. Senior management will engage in one-on-one meetings and presentations to discuss the company's advancements in antibody-based cancer therapies. The announcement underscores Adagene's commitment to innovation in immunotherapy, particularly through its SAFEbody technology and the ongoing clinical studies of its lead program, muzastotug. A webcast of the presentations will be available on the company's investor website following the events.
Read more →ADAGAdagene Presents Two Posters at AACR 2026 with New Data Highlighting Muzastotug's Potential as a Backbone Combination Therapy for Multiple Tumor Types
Adagene Inc. presented encouraging new data at the AACR annual meeting, highlighting the potential of muzastotug as a backbone therapy for multiple cancers. In clinical trials, a triple combination of muzastotug with atezolizumab and bevacizumab showed a significant increase in response rates compared to standard treatments in hepatocellular carcinoma. Additionally, in colorectal cancer, its combination with pembrolizumab and fruquintinib demonstrated a dose-dependent efficacy. The findings support the continued development of muzastotug and its therapeutic applications in challenging oncology settings.
Read more →ADAGAdagene Adds Industry Veteran Peter Lebowitz to Scientific and Strategic Advisory Board
Adagene Inc. has appointed Peter Lebowitz, MD, Ph.D., to its Scientific and Strategic Advisory Board. Lebowitz, known for his expertise in oncology and drug development, will guide the clinical advancement of Adagene's lead candidate, ADG126. His experience includes significant contributions to the development of numerous successful therapies during his tenure at Johnson & Johnson.
Read more →ADAG▼ -13.4%on this news
Confidential Adagene Announces Clinical Collaboration with Incyte to Evaluate Muzastotug (ADG126) in Combination with Incyte's TGF R2xPD-1 Bispecific Antibody (INCA33890) in Patients with Microsatellite Stable Colorectal
Adagene has entered a clinical collaboration with Incyte to evaluate the combination of its drug muzastotug (ADG126) with Incyte's TGF R2xPD-1 bispecific antibody (INCA33890) in patients with microsatellite stable colorectal cancer (MSS CRC). The Phase 1 study, set to begin in 2026, will focus on patients with and without liver metastases. This collaboration aims to enhance immunotherapy options for MSS CRC, a condition that is often resistant to existing treatments. Adagene will supply muzastotug, while Incyte will conduct the study.
Read more →ADAG▼ -13.4%on this news
Adagene Announces Pricing of US$70.0 Million Public Offering of ADSs
Adagene Inc. has announced the pricing of its public offering of 18,666,000 American depositary shares at $3.75 each, aiming to raise approximately $70 million. The offering is set to close on April 6, 2026, pending customary conditions. Notable participation includes various investment firms, indicating strong market interest.
Read more →ADAG▲ +17.6%on this newsshared move
Adagene Reports Full Year 2025 Financial Results and Provides Corporate Update
Adagene Inc. reported its financial results for the full year 2025 and provided updates on its clinical programs. The company's investigational therapy muzastotug demonstrated a 29% confirmed overall response rate among patients with MSS colorectal cancer, with an overall survival of 19.4 months for lower dose cohorts. Additionally, clinical tolerability appeared favorable, with no significant treatment-related adverse events reported across its patient population. Adagene also announced that its cash position as of December 31, 2025, stands at $74.5 million, projecting financial viability into early 2028.
Read more →ADAGAdagene’s Muzastotug (ADG126) to be Highlighted in Two Presentations at the 2026 American Association for Cancer Research (AACR) Annual Meeting in San Diego, CA
Adagene Inc. announced that its drug muzastotug (ADG126) will be featured in two poster presentations at the AACR Annual Meeting 2026 in San Diego. The presentations will focus on its Phase 1b evaluation in colorectal cancer and results from the Morpheus Liver study in hepatocellular carcinoma. Adagene continues to advance its antibody-based therapies using its SAFEbody technology.
Read more →ADAGAdagene Provides Business Update and 2026 Objectives
Adagene Inc. announced a business update with a cash position of $74.5 million, expected to sustain operations until late 2027. The company is focused on advancing its lead program, muzastotug, which is in Phase 1b/2 studies for treating MSS metastatic colorectal cancer. CEO Peter Luo emphasized the potential of muzastotug as a next-generation therapy, integrating innovative approaches in cancer treatment.
Read more →ADAG▲ +13.8%on this news
Adagene Announces FDA Fast Track Designation for Muzastotug (ADG126)
Adagene Inc. has received FDA Fast Track Designation for its drug muzastotug, aimed at treating microsatellite stable metastatic colorectal cancer in adults without liver metastases. This designation is based on positive clinical data demonstrating the drug's efficacy and safety when used with Merck's KEYTRUDA therapy. The company plans to advance its ongoing Phase 2 trial and is optimistic about the potential for muzastotug to improve patient outcomes significantly. The Fast Track status will allow for expedited development and review processes.
Read more →ADAGAdagene Announces Licensing Agreement with Third Arc Bio for Development of Two Masked CD3 T Cell Engagers Utilizing SAFEbody® Technology
Adagene has entered a licensing agreement with Third Arc Bio to utilize its SAFEbody technology for developing two CD3 T cell engagers. Adagene will receive an upfront payment of $5 million and could earn up to $840 million in milestones, along with royalties on sales. This partnership aims to enhance the therapeutic index of T cell engagers targeting unique tumor-associated antigens.
Read more →ADAG▼ -7.3%on this news· ran to -22% by day 3
Adagene Announces First Patient Dosed in Randomized Dose Optimization Cohort of the Phase 2 Study of Muzastotug (ADG126) in Combination with KEYTRUDA® (pembrolizumab) in Microsatellite Stable Colorectal Cancer
Adagene has initiated a Phase 2 clinical trial for muzastotug in combination with KEYTRUDA for microsatellite stable colorectal cancer. The first patient was dosed in October 2025, with the trial expected to complete by early 2027. The study aims to confirm the optimal dosing strategy and improve patient outcomes based on previous FDA discussions.
Read more →ADAGAdagene Expands SAFEbody® Collaboration and License Agreement with Exelixis to Develop Third Novel Masked Antibody-Drug Conjugate
Adagene has amended its collaboration agreement with Exelixis to develop a new antibody-drug conjugate using its SAFEbody technology. This technology allows for targeted delivery of therapeutics to tumor cells while minimizing effects on healthy cells. Adagene is set to receive milestones and royalties from this partnership, which underscores the potential of its innovative approach in cancer treatment.
Read more →About Adagene Inc.
HeadquartersSuzhou
Founded2011
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