Adagene Inc. (“Adagene”) (Nasdaq: ADAG), a platform-driven,
clinical-stage biotechnology company transforming the discovery and
development of novel antibody-based therapies, today reported
financial results for the six months ended June 30, 2024 and
provided corporate updates.
“With the potential best-in-class product
profile of ADG126 and its outstanding safety data in combination
with the widely used anti-PD-1 therapy, pembrolizumab, we are well
positioned to develop a new cornerstone immunotherapy doublet that
can be broadly combined, addressing indications and patient
populations beyond the available IO agents today,” said Peter Luo,
Ph.D., Chairman, CEO and President of R&D at Adagene. “Our
deep commitment to develop a safe and effective anti-CTLA-4 therapy
is coming to fruition. We are confident that higher, more frequent
and repeat dosing of anti-CTLA-4 in combination will translate into
improved patient outcomes, including clinical response and
survival.”
ADG126 HIGHLIGHTS
ADG126 is a masked anti-CTLA-4 SAFEbody targeting a unique
epitope of CTLA-4 on regulatory T cells (Tregs) in tumor tissue
which shows a potential best-in-class profile in combination with
pembrolizumab.
ESMO Poster Presentation in September
- Longer-term data from a phase 1b/2 trial in MSS CRC will be
presented at the ESMO Congress 2024 taking place in Barcelona,
September 13–17, including additional patients from expansion
cohorts of ADG126 10 mg/kg in combination with pembrolizumab. The
update will include:
- Additional follow up in evaluable patients at doses of ADG126
10 mg/kg Q3W (n=12; Part 1) and 10 mg/kg Q6W (n=10) without liver
metastases, including durability of partial responses and stable
disease, as well as progression-free survival (PFS) and initial
overall survival (OS) data
- Data on 12 more patients at ADG126 10 mg/kg Q3W (Part 2)
without liver metastases
Highlights of Prior Data Reported at ASCO GI
2024
- Data from Part 1 of an ongoing phase 1b/2 single arm trial
evaluating ADG126 in combination with pembrolizumab showed a
differentiated safety profile for ADG126 at doses from 6 mg/kg to
10 mg/kg administered every 3 or 6 weeks in heavily pre-treated
advanced/metastatic patients with solid tumors (N=46):
- Grade 3 TRAEs occurred in 5/46 patients (10.8%), with no Grade
3 colitis, no Grade 4 or 5 TRAEs, and a discontinuation rate of
6.5% (3/46)
- Grade 3 TRAEs occurred in 13% of patients treated with ADG126
10 mg/kg Q3W in combination with pembrolizumab
- The safety profile of ADG126 in combination with pembrolizumab
was comparable to that of pembrolizumab monotherapy
- This has been achieved with limited safety management for
immune-mediated diarrhea/colitis, such as infliximab infusion in no
more than 10% of patients
- A strong efficacy signal was observed in dose expansion in MSS
CRC with an overall response rate of 22% [2 confirmed Partial
Response (PRs)] in patients treated with ADG126 10 mg/kg Q3W in
combination with pembrolizumab (200 mg/Q3W) without peritoneal and
liver metastases (n=9):
- Seven patients in this subset experienced stable disease (SD)
for an overall disease control rate of 100% (2 PRs and 7 SD)
- One confirmed PR was observed in a patient with lung and lymph
node metastases who initially presented without detectable liver
lesions. The patient, who had previously failed two lines of
therapy, later experienced shrinkage of sizable new liver lesions
while on treatment
- In a preliminary progression-free survival (PFS) analysis of
those MSS CRC patients free of liver and peritoneal metastasis, a
median progression-free survival (PFS) of seven months was observed
in those treated with ADG126 10 mg/kg at two dosing frequencies
pooled together [every three weeks (n=9) and every six weeks
(n=6)].
Additional MSS CRC Patient Cohorts Enrolled
- Adagene has enrolled five additional patients prospectively
without peritoneal and liver metastases treated with ADG126 10
mg/kg Q3W in combination with pembrolizumab (Part 3) to further
expand the patient sample with this dosing regimen.
- Adagene is also evaluating patients treated with a 20 mg/kg
loading dose followed by ADG126 10 mg/kg Q3W in combination with
pembrolizumab at sites in the US and Asia Pacific. Ten patients
have been enrolled in a dose expansion cohort for this dosing
regimen with initial results planned for later this year.
Greater China Expansion
- Adagene recently initiated evaluation of ADG126 in
combination with pembrolizumab in Greater China. Following a safety
evaluation, this study enables the company to broaden its dose
expansion cohorts for MSS CRC at selected dosing regimens, and
potentially in other tumor types.
- Additionally, a small cohort of patients (~5) with
advanced/metastatic cancers is ongoing to evaluate 30 mg/kg ADG126
monotherapy Q3W in Greater China and define the potential maximum
tolerated dose of ADG126 monotherapy.
Clinical Activity Suggested in PD-1 Experienced and PD-L1 Low
Patients
- In a dose escalation cohort across
three dosing regimens (n=11) presented at ASCO-GI 2024, two
confirmed PRs were observed among the three patients treated with
ADG126 10 mg/kg Q3W in combination with pembrolizumab. One of
the patients had PD-1 refractory cervical cancer and the other had
endometrial cancer. The cervical cancer patient had progressed
after two lines of prior therapy, including nine cycles of
pembrolizumab monotherapy, meeting criteria for PD-1 resistance.
Both confirmed PRs are sustained after more than 18 months with
repeat dosing while maintaining robust safety profiles.
- Data at ASCO-GI 2024 also showed
a confirmed PR in a patient with head and neck squamous cell
carcinoma who was treated with ADG126 10 mg/kg Q6W in combination
with pembrolizumab (n=17). The patient was IO-naïve with a low CPS
score and experienced a complete reduction in target lesions.
Clinical Activity Suggested in MSS CRC Patients with Liver
Metastases
- In a cohort evaluating ADG126 plus
the approved anti-PD-1 therapy, toripalimab (240 mg Q3W), two cases
of significant tumor shrinkage were observed in MSS CRC patients
with liver metastasis. Both patients were heavily pre-treated with
three lines of prior therapy:
- One patient with lung, lymph node
and liver metastases experienced more than a 30% reduction in
target lesions (ADG126 10 mg/kg Q3W). Due to the presence of new
lesions, the mixed response was not considered an objective
response following RECIST criteria.
- The second patient (ADG126 6 mg/kg
Q3W) experienced a 21% reduction in two target lesions on the liver
(55 and 48 mm, respectively).
- Further, in a dose escalation
cohort (n=6) evaluating the unmasked/parental antibody to ADG126,
ADG116 (3 mg/kg Q3W), in combination with pembrolizumab, a patient
with liver metastases who failed five previous lines of therapy
experienced significant reduction in carcinoembryonic antigen (CEA)
levels. The data were presented in a poster at SITC 2022.
ADDITIONAL SAFEBODY PIPELINE
- Phase 1 evaluation is ongoing for ADG206, a masked, IgG1
FC-enhanced anti-CD137 POWERbody™ in patients with
advanced/metastatic tumors:
- Adagene has now enrolled 13 patients in an ongoing phase 1
trial of ADG206 to evaluate safety, efficacy and tolerability
profiles for this next generation anti-CD137 candidate. Dose
escalation continues with a cohort ongoing at 6 mg/kg Q3W. No
maximum tolerated dose (MTD) has yet been reached.
- Preclinical data demonstrated that ADG206 was well
tolerated and had robust anti-tumor activity as a single agent in
multiple tumor models, with 4-fold stronger anti-CD137 agonistic
activity of its activated form than a benchmark antibody (urelumab
analog) that displayed dose-dependent liver toxicity with an MTD of
0.1 mg/kg Q3W.
- ADG206 is the company’s first SAFEbody with Fc enhancement,
called a POWERbody, to advance into clinic. ADG206 combines
SAFEbody precision masking, Fc enhancement and targeting of a
unique epitope to solve the safety and efficacy challenges of
anti-CD137 therapies, reflecting versatility of Adagene’s dynamic
antibody discovery and masking platform.
- Preclinical candidates in IND-enabling studies demonstrate the
versatility and potential best-in-class safety profiles of
candidates developed using SAFEbody precision masking technology in
IgG format. Candidates include two masked CD3 T Cell Engagers
(TCEs) in IND-enabling phase with a prolonged half-life and robust
preclinical safety profiles, demonstrating well-controlled cytokine
release syndrome (CRS) in non-human primate studies, as well as
others applying the SAFEbody platform:
- ADG138 is a double masked CD3xHER2 with a high
therapeutic index relative to its parental non-masked TCE in both
HER2 high and low expressing solid tumors, supporting its
development for HER2-expressing solid tumors as a single agent and
in combination with other immune modulating agents.
- ADG152 is a masked bispecific CD3xCD20 that
integrates SAFEbody precision masking technology to minimize CRS
and on-target/off-tumor toxicities for an increased therapeutic
index. The anti-CD20 arm of ADG152 has enhanced binding to CD20,
while its anti-CD3 arm has tailor-made affinity for CD3 using
SAFEbody technology. Preclinical data show ADG152 induced strong
and sustained B-cell depletion across different dose levels.
- ADG153 is a masked anti-CD47 in IgG1 format
that is differentiated by its strong antibody-dependent cellular
cytotoxicity (ADCC) and antibody-dependent cellular phagocytosis
(ADCP) activity. ADG153 is designed with SAFEbody masking
technology with active Fc to realize the full potential of
anti-CD47 therapy for both hematologic and solid tumor
indications.
- CD28
bispecific TCEs exhibit enormous potential to
fulfill the promises of safe and durable T cell-mediated
synergistic immunotherapies when combined with CD3 bispecific TCEs
and/or checkpoint inhibitors. Preclinical data demonstrated the
potential to mitigate the serious safety concerns of CD28
activation and make custom designed antibodies targeting a highly
conserved epitope with broad species reactivity.
COLLABORATIONS
- Exelixis: Adagene and Exelixis are
collaborating under a collaboration and licensing agreement to
develop novel masked antibody-drug conjugate candidates using
Adagene’s SAFEbody precision masking technology. Terms of the
agreement, which was executed in February 2021, include an upfront
payment from Exelixis of US$11 million to Adagene, allowing
Exelixis the ability to nominate two targets during the
collaboration term. Adagene will be eligible for development and
commercialization milestones, as well as royalties on net sales of
products developed around each of these targets. To date, Adagene
has received US$6 million for successful nomination of lead
SAFEbody candidates in the collaboration.
- Sanofi: Under a collaboration announced in
March 2022, Adagene will develop masked versions of Sanofi
bispecific and monoclonal antibody candidates, using Adagene’s
SAFEbody technology, for potential future development and
commercialization by Sanofi.
- Roche: Roche is sponsoring and conducting a
phase 1b/2 multi-national trial to evaluate ADG126 in a triple
combination with atezolizumab and bevacizumab in first-line
hepatocellular carcinoma (HCC). To date the combination has been
well tolerated. Adagene retains global development and
commercialization rights to ADG126.
2024 MILESTONES & CASH RUNWAY INTO 2026
Adagene expects its current cash balance to fund activities
into 2026, with multiple readouts anticipated from the ongoing
program evaluating ADG126 in combination with pembrolizumab in MSS
CRC at major medical conference(s).
FINANCIAL HIGHLIGHTS
Cash and Cash EquivalentsCash
and cash equivalents were US$95.7 million as of June 30, 2024,
compared to US$109.9 million as of December 31, 2023. Total
borrowings from commercial banks in China (denominated in RMB)
decreased to US$20.5 million as of June 30, 2024 from US$21.9
million as of December 31, 2023. The associated loan proceeds were
primarily used to support the company’s R&D activities
in China.
Net Revenue:Net revenue was nil
for the six months ended June 30, 2024, compared to US$17.3 million
for the same period in 2023. The company did not enter into any new
contracts with customers and did not complete any performance
obligations in relation to existing contracts with customers during
the six months ended June 30, 2024.
Research and Development (R&D)
Expenses: R&D expenses were US$14.7 million for the
six months ended June 30, 2024, compared to US$21.3 million for the
same period in 2023. The 31% decrease in R&D expenses reflects
clinical focus on and prioritization of the company’s masked,
anti-CTLA-4 SAFEbody ADG126.
Administrative
Expenses:Administrative expenses were US$3.6 million for
the six months ended June 30, 2024, compared to US$4.5 million for
the same period in 2023. The decrease was driven by reduction in
personnel and cost-control measures.
Other Operating Income,
Net:Other operating income, net was nil for the six months
ended June 30, 2024, compared to US$3.4 million for the same period
in 2023. The amount of US$3.4 million included a one-time
compensation payment from a contract manufacturer for a
preclinical-related outsourcing arrangement.
Net Loss:Net loss attributable
to Adagene Inc.’s shareholders was US$17.0 million for the six
months ended June 30, 2024, compared to US$4.1 million for the same
period in 2023.
Ordinary Shares Outstanding:As
of June 30, 2024, there were 55,338,480 ordinary shares issued and
outstanding. Each American depository share, or ADS, represents one
and one quarter (1.25) ordinary shares of the company.
Non-GAAP Net Loss:Non-GAAP net
loss, which is defined as net loss attributable to ordinary
shareholders after excluding share-based compensation expenses, was
US$14.5 million for the six months ended June 30, 2024, compared to
US$0.1 million for the same period in 2023. Please refer to the
section in this press release titled “Reconciliation of GAAP and
Non-GAAP Results” for details.
Non-GAAP Financial MeasuresThe
company uses non-GAAP net loss and non-GAAP net loss per ordinary
share for the period, which are non-GAAP financial measures, in
evaluating its operating results and for financial and operational
decision-making purposes. The company believes that non-GAAP net
loss and non-GAAP net loss per ordinary share for the period help
identify underlying trends in the company’s business that could
otherwise be distorted by the effect of certain expenses that the
company includes in its loss for the period. The company believes
that non-GAAP net loss and non-GAAP net loss per ordinary share for
the period provide useful information about its results of
operations, enhances the overall understanding of its past
performance and future prospects and allows for greater visibility
with respect to key metrics used by its management in its financial
and operational decision-making.
Non-GAAP net loss and non-GAAP net loss per ordinary share for
the period should not be considered in isolation or construed as an
alternative to operating profit, loss for the period or any other
measure of performance or as an indicator of its operating
performance. Investors are encouraged to review non-GAAP net loss
and non-GAAP net loss per ordinary share for the period and the
reconciliation to their most directly comparable GAAP measures.
Non-GAAP net loss and non-GAAP net loss per ordinary share for the
period here may not be comparable to similarly titled measures
presented by other companies. Other companies may calculate
similarly titled measures differently, limiting their usefulness as
comparative measures to the company’s data. The company encourages
investors and others to review its financial information in its
entirety and not rely on a single financial measure.
Non-GAAP net loss and non-GAAP net loss per ordinary share for
the period represent net loss attributable to ordinary shareholders
for the period excluding share-based compensation expenses.
Share-based compensation expense is a non-cash expense arising from
the grant of stock-based awards to employees. The company believes
that the exclusion of share-based compensation expenses from the
net loss in the “Reconciliation of GAAP and Non-GAAP Results”
assists management and investors in making meaningful
period-to-period comparisons in the company's operating performance
or peer group comparisons because (i) the amount of share-based
compensation expenses in any specific period may not directly
correlate to the company’s underlying performance, (ii) such
expenses can vary significantly between periods as a result of the
timing of grants of new stock-based awards, and (iii) other
companies may use different forms of employee compensation or
different valuation methodologies for their share-based
compensation.
Please see the “Reconciliation of GAAP and Non-GAAP Results”
included in this press release for a full reconciliation of
non-GAAP net loss and non-GAAP net loss per ordinary share for the
period to net loss attributable to ordinary shareholders for the
period.
About AdageneAdagene Inc. (Nasdaq:
ADAG) is a platform-driven, clinical-stage biotechnology company
committed to transforming the discovery and development of novel
antibody-based cancer immunotherapies. Adagene combines
computational biology and artificial intelligence to design novel
antibodies that address globally unmet patient needs. The
company has forged strategic collaborations with reputable
global partners that leverage its SAFEbody® precision masking
technology in multiple approaches at the vanguard of science.
Powered by its proprietary Dynamic Precision
Library (DPL) platform, composed of NEObody™, SAFEbody, and
POWERbody™ technologies, Adagene’s highly differentiated pipeline
features novel immunotherapy programs. The company’s SAFEbody
technology is designed to address safety and tolerability
challenges associated with many antibody therapeutics by using
precision masking technology to shield the binding domain of the
biologic therapy. Through activation in the tumor microenvironment,
this allows for tumor-specific targeting of antibodies in tumor
microenvironment, while minimizing on-target off-tumor toxicity in
healthy tissues.
Adagene’s lead clinical program, ADG126 (muzastotug), is a
masked, anti-CTLA-4 SAFEbody that targets a unique epitope of
CTLA-4 in regulatory T cells (TREGs) in the tumor microenvironment.
ADG126 is currently in phase 1b/2 clinical studies in combination
with anti-PD-1 therapy, particularly focused on Metastatic
Microsatellite-stable (MSS) Colorectal Cancer (CRC). Validated
by ongoing clinical research, the SAFEbody platform can be applied
to a wide variety of antibody-based therapeutic modalities,
including Fc empowered antibodies, antibody-drug conjugates, and
bi/multispecific T-cell engagers.
For more information, please
visit: https://investor.adagene.com.
Follow Adagene on WeChat, LinkedIn and Twitter.
SAFEbody® is a registered trademark in the United
States, China, Australia, Japan, Singapore, and
the European Union.
KEYTRUDA® is a registered trademark of Merck Sharp & Dohme
LLC, a subsidiary of Merk & Co., Inc., Rahway, NJ, USA.
Safe Harbor Statement
This press release contains forward-looking
statements, including statements regarding the potential
implications of clinical data for patients, and Adagene’s
advancement of, and anticipated preclinical activities, clinical
development, regulatory milestones, and commercialization of its
product candidates. Actual results may differ materially from those
indicated in the forward-looking statements as a result of various
important factors, including but not limited to Adagene’s ability
to demonstrate the safety and efficacy of its drug candidates; the
clinical results for its drug candidates, which may not support
further development or regulatory approval; the content and timing
of decisions made by the relevant regulatory authorities regarding
regulatory approval of Adagene’s drug candidates; Adagene’s ability
to achieve commercial success for its drug candidates, if approved;
Adagene’s ability to obtain and maintain protection of intellectual
property for its technology and drugs; Adagene’s reliance on third
parties to conduct drug development, manufacturing and other
services; Adagene’s limited operating history and Adagene’s ability
to obtain additional funding for operations and to complete the
development and commercialization of its drug candidates; Adagene’s
ability to enter into additional collaboration agreements beyond
its existing strategic partnerships or collaborations, and the
impact of the outbreak of a widespread health epidemic on Adagene’s
clinical development, commercial and other operations, as well as
those risks more fully discussed in the “Risk Factors” section in
Adagene’s annual report for the year of 2023 on Form 20-F filed
with the U.S. Securities and Exchange Commission. All
forward-looking statements are based on information currently
available to Adagene, and Adagene undertakes no obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise, except
as may be required by law.
Investor & Media Contact:Ami
Knoefler650-739-9952ir@adagene.com
FINANCIAL TABLES FOLLOW
Unaudited Consolidated Balance Sheets
|
|
|
|
December 31,2023 |
|
June 30, 2024 |
|
US$ |
|
US$ |
ASSETS |
|
|
Current
assets: |
|
|
Cash and cash equivalents |
109,934,257 |
|
|
95,673,787 |
|
Amounts due from related parties |
222,027 |
|
|
31,419 |
|
Prepayments and other current assets |
3,287,445 |
|
|
3,099,362 |
|
Total current
assets |
113,443,729 |
|
|
98,804,568 |
|
Property, equipment and software, net |
1,835,121 |
|
|
1,439,102 |
|
Operating lease right-of-use assets |
365,103 |
|
|
254,048 |
|
Other non-current assets |
84,885 |
|
|
281,881 |
|
TOTAL
ASSETS |
115,728,838 |
|
|
100,779,599 |
|
LIABILITIES AND
SHAREHOLDERS’ EQUITY |
|
|
Current
liabilities: |
|
|
Accounts payable |
3,093,752 |
|
|
3,370,641 |
|
Amounts due to related parties |
16,714,326 |
|
|
17,333,926 |
|
Accruals and other current liabilities |
3,001,508 |
|
|
2,658,532 |
|
Income tax payable |
52,884 |
|
|
38,382 |
|
Short-term borrowings |
4,235,673 |
|
|
4,209,463 |
|
Current portion of long-term borrowings |
4,161,549 |
|
|
11,765,449 |
|
Current portion of operating lease liabilities |
195,955 |
|
|
141,281 |
|
Total current
liabilities |
31,455,647 |
|
|
39,517,674 |
|
Long-term borrowings |
13,540,034 |
|
|
4,560,251 |
|
Operating lease liabilities |
173,660 |
|
|
114,086 |
|
TOTAL
LIABILITIES |
45,169,341 |
|
|
44,192,011 |
|
Commitments and
contingencies |
|
|
Shareholders’
equity: |
|
|
Ordinary shares (par value of US$0.0001 per share; 640,000,000
shares authorized, and 55,145,839 shares issued and outstanding as
of December 31, 2023; and 640,000,000 shares authorized, and
55,338,480 shares issued and outstanding as of June 30, 2024) |
5,547 |
|
|
5,554 |
|
Treasury shares, at cost (1 share as of December 31, 2023 and June
30, 2024) |
(4 |
) |
|
(4 |
) |
Additional paid-in capital |
350,105,518 |
|
|
352,645,033 |
|
Accumulated other comprehensive loss |
(1,800,088 |
) |
|
(1,299,803 |
) |
Accumulated deficit |
(277,751,476 |
) |
|
(294,763,192 |
) |
Total shareholders’
equity |
70,559,497 |
|
|
56,587,588 |
|
TOTAL LIABILITIES AND
SHAREHOLDERS’ EQUITY |
115,728,838 |
|
|
100,779,599 |
|
Unaudited Consolidated Statements of
Comprehensive Loss
|
For the Six MonthsEnded June 30, 2023 |
|
For the Six MonthsEnded June 30, 2024 |
|
US$ |
|
US$ |
Revenues |
|
|
Licensing and collaboration revenue |
17,295,745 |
|
|
— |
|
Operating expenses and
income |
|
|
Research and development expenses |
(21,289,434 |
) |
|
(14,724,553 |
) |
Administrative expenses |
(4,470,520 |
) |
|
(3,597,278 |
) |
Other operating income, net |
3,415,230 |
|
|
— |
|
Loss from
operations |
(5,048,979 |
) |
|
(18,321,831 |
) |
Interest and investment income |
1,918,971 |
|
|
1,976,559 |
|
Interest expense |
(573,507 |
) |
|
(428,328 |
) |
Other income, net |
287,430 |
|
|
47,040 |
|
Foreign exchange gain (loss), net |
1,620,415 |
|
|
(283,768 |
) |
Loss before income
tax |
(1,795,670 |
) |
|
(17,010,328 |
) |
Income tax expense |
(2,313,136 |
) |
|
(1,388 |
) |
Net loss attributable
to Adagene Inc.’s shareholders |
(4,108,806 |
) |
|
(17,011,716 |
) |
Other comprehensive
income (loss) |
|
|
Foreign currency translation adjustments, net of nil tax |
(407,330 |
) |
|
500,285 |
|
Total comprehensive
loss attributable to Adagene Inc.’s shareholders |
(4,516,136 |
) |
|
(16,511,431 |
) |
Net loss attributable
to Adagene Inc.’s shareholders |
(4,108,806 |
) |
|
(17,011,716 |
) |
Net loss attributable
to ordinary shareholders |
(4,108,806 |
) |
|
(17,011,716 |
) |
Weighted average
number of ordinary shares used in per share
calculation: |
|
|
—Basic |
54,604,787 |
|
|
55,213,051 |
|
—Diluted |
54,604,787 |
|
|
55,213,051 |
|
Net loss per ordinary
share |
|
|
—Basic |
(0.08 |
) |
|
(0.31 |
) |
—Diluted |
(0.08 |
) |
|
(0.31 |
) |
Reconciliation of GAAP and Non-GAAP
Results
|
For the Six MonthsEnded June 30, 2023 |
|
For the Six MonthsEnded June 30, 2024 |
|
US$ |
US$ |
GAAP net loss attributable to ordinary
shareholders |
(4,108,806 |
) |
|
(17,011,716 |
) |
Add back: |
|
|
Share-based compensation expenses |
4,030,214 |
|
|
2,477,108 |
|
Non-GAAP net
loss |
(78,592 |
) |
|
(14,534,608 |
) |
Weighted average number of
ordinary shares used in per share calculation: |
|
|
—Basic |
54,604,787 |
|
|
55,213,051 |
|
—Diluted |
54,604,787 |
|
|
55,213,051 |
|
Non-GAAP net loss per
ordinary share |
|
|
—Basic |
(0.00 |
) |
|
(0.26 |
) |
—Diluted |
(0.00 |
) |
|
(0.26 |
) |
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