BUZZ — ADARx Pharmaceuticals surges in Nasdaq debut after upsized $446.3 million IPO

(Updates) * Late-stage drug developer ADARx Pharmaceuticals' shares surge as much as 36.5% in Nasdaq debut after upsized $446.3 million US IPO * Stock opened at $22.10apiece vs $17 IPO price * San Diego-based ADRX, which is developing RNA-based drugs for rare diseases, sold about 26.3 million shares in upsized IPO after initially marketingroughly 21.9 million shares priced between $15 and $17 apiece * Separately, drugmaker AbbVie had indicated interest in buying $100 million worth of shares in concurrent private placement * J.P. Morgan, Morgan Stanley, TD Cowen and UBS Investment Bank were lead book-running managers for offering * ADRX rival City Therapeutics also filed for US IPO on Thursday, reinforcing biotech pipeline for fall window * "If ADARx does well, I expect City would have no problem finding buyers," said Matt Kennedy, senior ‍strategist at Renaissance Capital, a provider of ​IPO-focused research and ETFs (Reporting by Arasu Kannagi Basil in Bengaluru) ((mailto:ArasuKannagi.Basil@thomsonreuters.com;)