FMR LLC & Abigail Johnson Hold 6.414% Stake in Adagene Inc.

Ticker: ADAG · Form: SC 13G/A · Filed: 2024-02-09T00:00:00.000Z

Sentiment: neutral

Topics: institutional-ownership, amendment, biotech

TL;DR

**FMR LLC and Abigail Johnson still own 6.414% of Adagene, showing continued institutional interest.**

AI Summary

FMR LLC, a major investment firm, and its principal owner, Abigail P. Johnson, have updated their ownership stake in Adagene Inc. (a pharmaceutical company) to 6.414% as of February 9, 2024. They beneficially own 3,382,237 shares of common stock. This matters to investors because it shows a significant institutional holder maintaining a substantial position, indicating continued confidence in Adagene's future, despite a slight decrease from previous filings.

Why It Matters

This filing confirms that a major institutional investor, FMR LLC, and its leader, Abigail P. Johnson, continue to hold a significant stake in Adagene, which can be seen as a vote of confidence in the company's long-term prospects.

Risk Assessment

Risk Level: low — The filing indicates a stable, significant institutional ownership, which generally reduces volatility and provides a degree of stability to the stock.

Analyst Insight

Investors should note the continued institutional interest from FMR LLC, but also recognize that this is an amendment, not a new position, and the percentage ownership is stable. It's a data point for long-term holders, not a catalyst for immediate action.

Key Numbers

Key Players & Entities

Forward-Looking Statements

FAQ

Who are the primary reporting persons in this SC 13G/A filing for Adagene Inc.?

The primary reporting persons are FMR LLC and Abigail P. Johnson, as stated in Items 1 and 2 of the filing.

What percentage of Adagene Inc.'s common stock does FMR LLC beneficially own according to this filing?

FMR LLC beneficially owns 6.414% of Adagene Inc.'s common stock, as indicated in Item 11 on the cover page and Item 4(b) of the filing.

How many shares of Adagene Inc. common stock does Abigail P. Johnson have sole power to dispose of?

Abigail P. Johnson has sole power to dispose of 3,382,237 shares, as shown in Item 7 on her cover page.

What is the CUSIP number for the class of securities reported in this filing?

The CUSIP number for Adagene Inc. common stock is 005329107, as listed in Item 1(a) and Item 2(e) of the filing.

Under which rule was this Schedule 13G filed?

This Schedule 13G was filed under Rule 13d-1(c), as indicated by the 'x' in the appropriate box on the first page of the filing.

From the Filing

0000315066-24-001001.txt : 20240209 0000315066-24-001001.hdr.sgml : 20240209 20240209083554 ACCESSION NUMBER: 0000315066-24-001001 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240209 DATE AS OF CHANGE: 20240209 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Adagene Inc. CENTRAL INDEX KEY: 0001818838 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] ORGANIZATION NAME: 03 Life Sciences IRS NUMBER: 000000000 STATE OF INCORPORATION: E9 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-92270 FILM NUMBER: 24611326 BUSINESS ADDRESS: STREET 1: 4F, BUILDING C14, NO. 218, XINGHU STREET STREET 2: SUZHOU INDUSTRIAL PARK CITY: JIANGSU STATE: F4 ZIP: 00000 BUSINESS PHONE: 86-512-87773632 MAIL ADDRESS: STREET 1: 4F, BUILDING C14, NO. 218, XINGHU STREET STREET 2: SUZHOU INDUSTRIAL PARK CITY: JIANGSU STATE: F4 ZIP: 00000 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: FMR LLC CENTRAL INDEX KEY: 0000315066 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] ORGANIZATION NAME: IRS NUMBER: 043532603 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 245 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02210 BUSINESS PHONE: 6175706339 MAIL ADDRESS: STREET 1: 245 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02210 FORMER COMPANY: FORMER CONFORMED NAME: FMR CORP DATE OF NAME CHANGE: 19920717 SC 13G/A 1 filing.txt SCHEDULE 13G Amendment No.3 ADAGENE INC COMMON STOCK Cusip #005329107 Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [ ] Rule 13d-1(b) [x] Rule 13d-1(c) [ ] Rule 13d-1(d) Cusip #005329107 Item 1: Reporting Person - FMR LLC Item 2: (a) [ ] (b) [ ] Item 4: Delaware Item 5: 3,382,237 Item 6: 0 Item 7: 3,382,237 Item 8: 0 Item 9: 3,382,237 Item 11: 6.414% Item 12: HC Cusip #005329107 Item 1: Reporting Person - Abigail P. Johnson Item 2: (a) [ ] (b) [ ] Item 4: United States of America Item 5: 0 Item 6: 0 Item 7: 3,382,237 Item 8: 0 Item 9: 3,382,237 Item 11: 6.414% Item 12: IN Item 1(a). Name of Issuer: ADAGENE INC Item 1(b). Address of Issuer's Principal Executive Offices: 4F, Building C14, No. 218, Xinghu Street, Suzhou Industrial Park Jiangsu, 00000 China Item 2(a). Name of Person Filing: FMR LLC Item 2(b). Address or Principal Business Office or, if None, Residence: 245 Summer Street, Boston, Massachusetts 02210 Item 2(c). Citizenship: Not applicable Item 2(d). Title of Class of Securities: COMMON STOCK Item 2(e). CUSIP Number: 005329107 Item 3. Not Applicable Item 4. Ownership (a) Amount Beneficially Owned: 3,382,237 (b) Percent of Class: 6.414% (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote: Please see the responses to Items 5 and 6 on the cover page (ii) shared power to vote or to direct the vote: 0 (iii) sole power to dispose or to direct the disposition of: 3,382,237 (iv) shared power to dispose or to direct the disposition of: 0 Item 5. Ownership of Five Percent or Less of a Class. Not applicable. Item 6. Ownership of More than Five Percent on Behalf of Another Person. One or more other persons are known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the COMMON STOCK of ADAGENE INC. The interest of F-Prime Capital Partners Healthcare Fund III LP, in the COMMON STOCK of ADAGENE INC, amounted to 3,226,035 shares or 6.118% of the total outstanding COMMON STOCK at December 29, 2023. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company. See attached Exhibit A. Item 8. Identification and Classification of Members of the Group. Not applicable. Item 9. Notice of Dissolution of Group. Not applicable. Item 10. Certifications. By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were no

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