Adagene Inc. Files 6-K for FY 2024 Results

TL;DR

Adagene dropped its FY24 results via 6-K on 3/24. Check the press release for deets.

AI Summary

Adagene Inc. filed a Form 6-K on March 24, 2025, reporting its full-year 2024 financial results and providing a business update. The filing includes a press release detailing these results and updates on the company's operations and strategic direction.

Why It Matters

This filing provides investors with the latest financial performance and operational updates from Adagene Inc., crucial for assessing the company's current standing and future prospects.

Risk Assessment

Risk Level: low — This is a routine financial results filing and does not introduce new risks.

Key Players & Entities

• Adagene Inc. (company) — Registrant
• Peter Luo (person) — Chief Executive Officer
• March 24, 2025 (date) — Filing date

FAQ

From the Filing

0001104659-25-026869.txt : 20250324 0001104659-25-026869.hdr.sgml : 20250324 20250324080018 ACCESSION NUMBER: 0001104659-25-026869 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20250324 FILED AS OF DATE: 20250324 DATE AS OF CHANGE: 20250324 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Adagene Inc. CENTRAL INDEX KEY: 0001818838 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] ORGANIZATION NAME: 03 Life Sciences EIN: 000000000 STATE OF INCORPORATION: E9 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-39997 FILM NUMBER: 25762241 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 6-K 1 tm2423673d2_6k.htm FORM 6-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a- 16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the Month of March 2025 Commission File Number: 001-39997 Adagene Inc. 4F, Building C14, No. 218 Xinghu Street, Suzhou Industrial Park Suzhou, Jiangsu Province, 215123 People’s Republic of China +86-512-8777-3632 (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F x Form 40-F ¨ SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Adagene Inc. By: /s/ Peter Luo Name: Peter Luo Title: Chief Executive Officer Date: March 24, 2025 EXHIBIT INDEX Exhibit Description 99.1 Press Release titled “Adagene Reports Full Year 2024 Financial Results and Provides Corporate Update” EX-99.1 2 tm2423673d2_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 Adagene Reports Full Year 2024 Financial Results and Provides Corporate Update Muzastotug Phase 2 dose expansion in MSS CRC with a 20 mg/kg loading dose regimen shows 33% overall response rate with four confirmed partial responses SAFEbody technology utilized to create masked T cell engagers for potentially superior safety profile with enhanced therapeutic index Cash balance of $85.2 million provides runway into late 2026 SAN DIEGO, Calif. and SUZHOU, China, March 24, 2025 – Adagene Inc. (“Adagene”) (Nasdaq: ADAG), a platform-driven, clinical-stage biotechnology company transforming the discovery and development of novel anti-body-based therapies, today reported financial results for the full year 2024 and provided corporate updates. “The clinical data we generated in 2024 with ADG126 gives us great confidence in our ability to provide patients with colorectal cancer a tolerable, efficacious treatment option. These data also provide the basis for us to expand our study in microsatellite stable colorectal cancer (MSS CRC) to include earlier lines of therapy and patients with liver metastases, a patient subpopulation that has historically seen little to no benefit from checkpoint inhibitors,” said Peter Luo, Ph.D., Chairman, CEO and President of R&D at Adagene. “Regulatory T cells, a primary mechanism of resistance, can be overcome through higher and more frequent dosing of a conditionally active anti-CTLA-4 antibody. We continue to believe that ADG126 can transform immunotherapy in combination with anti-PD-1 and other therapies. Our SAFEbody masking capability enables the best therapeutic index among all CTLA-4 programs, showing the potential to unlock therapeutic value with a target previously limited by safety concerns.” Dr. Luo continued, “In addition to ADG126, we have also utilized our SAFEbody masking technology to create T cell