Stocks Health care ADAG
NASDAQ · Health careAdagene Inc. (ADAG)
Adagene Inc. reported revenue of $7.7M in fiscal 2025, up 7,332.8% from a year earlier. It posted a net loss of $17.6M. In fiscal 2025 capital spending exceeded operating cash flow by $15.7M. At December 31, 2025 it held $74.5M in cash against $1.8M of debt. Its latest periodic report to the SEC is the annual report (foreign issuer) (20-F) filed on April 1, 2026.
Key facts about Adagene Inc.
- Net worth
- Adagene Inc. has a market value (market cap) of $136.7M at the latest share price, and shareholders' equity of $35.3M on its balance sheet at December 31, 2025. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2025 revenue was $7.7M (+7,332.8% year on year), with a net loss of $17.6M.
- Cash flow
- In fiscal 2025 operations used $15.7M of cash.
- Latest report
- The latest periodic report (annual report (foreign issuer), 20-F) was filed with the SEC on April 1, 2026 and covers the period to December 31, 2025. Open on SEC EDGAR
What Adagene Inc. does
Adagene Inc. is registered with the SEC under industry code SIC 2834 (Pharmaceutical Preparations). Its shares trade on NASDAQ under the ticker ADAG.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | $7.7M | -$17.6M | -$0.30 | -$15.7M |
| 2024 | $103.2K | -$33.4M | -$0.59 | -$29.7M |
| 2023 | $18.1M | -$18.9M | -$0.35 | -$28.5M |
| 2022 | $9.3M | -$80M | -$1.48 | -$49.3M |
| 2021 | $10.2M | -$73.2M | -$1.46 | -$45.9M |
| 2020 | $700.9K | -$42.4M | -$2.67 | -$29.5M |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Where ADAG ranks in Health care
Latest SEC filings
What Adagene Inc. has filed recently, newest first. Each links to the original document on SEC EDGAR.
- November 9, 2026
- September 25, 2026
- September 22, 2026
- September 10, 2026
- September 9, 2026
- August 14, 2026Passive stake changed SCHEDULE 13G/A
- August 12, 2026
- July 6, 2026
- June 8, 2026Activist stake changed SCHEDULE 13D/A
- May 15, 2026Passive stake changed SCHEDULE 13G/A
Insider trades
What the people running Adagene Inc. did with its shares, from the Form 4 filings they must send the SEC within two business days.
Insiders bought $77.5K worth of shares on the open market in the last 90 days and sold none.
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| September 23, 2026 | Tam Man KinChief Financial Officer, Director | Bought | 2,000 | $6K |
| September 16, 2026 | Luo PeterChief Executive Officer, Director | Bought | 20,290 | $64K |
| August 14, 2026 | Do Cuong VDirector | Bought | 2,000 | $7.5K |
| August 5, 2026 | Luo PeterChief Executive Officer, Director | Bought | 279 | $1K |
| August 4, 2026 | Luo PeterChief Executive Officer, Director | Bought | 22,966 | $83.7K |
Who owns ADAG
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| Peter Luo13D, may seek influence with 1 related filers | 21.28% | March 1, 2024 |
| HAN 2020 Irrevocable Trust13D, may seek influence with 1 related filers | 11.2% | June 8, 2026 |
| Janus Henderson Group PLC13G, passive | 10.1% | May 7, 2026 |
| Smith Vincent C13G, passive with 2 related filers | 8.7% | January 29, 2026 |
| OT Management, LLC13G, passive with 1 related filers | 8.1% | February 3, 2025 |
| Chernett Jorey13G, passive | 5.1% | March 18, 2026 |
Largest institutional holders
Positions that investment managers reported on Form 13F for the quarter ended June 30, 2026, largest first, with the change on the quarter ended March 31, 2026. Managers file 13F up to 45 days after a quarter ends. 36 managers reported a position.
| Holder | Shares | Change on quarter |
|---|---|---|
| Jupiter Topco LLC | 6,666,666 | new |
| Deerfield Management Company, L.P. | 2,666,666 | new |
| Siren, L.L.C. | 2,666,666 | new |
| Ameriprise Financial Inc | 1,716,711 | +1,108,808 |
| HSG Holding Ltd | 1,343,364 | 0 |
| Squadron Capital Management LLC | 1,250,000 | new |
| Dauntless Investment Group, LLC | 537,230 | +502,455 |
| Citadel Advisors LLC | 506,934 | new |
| Exome Asset Management LLC | 488,293 | -248,552 |
| Birchview Capital, LP | 240,000 | new |
| Moneta Group Investment Advisors LLC | 200,000 | new |
| Pathstone Holdings, LLC | 199,610 | new |
| Renaissance Technologies LLC | 146,500 | +111,967 |
| UBS Group AG | 124,063 | +120,061 |
| Goldman Sachs Group Inc | 105,598 | new |
| Quadrature Capital Ltd | 80,487 | +68,870 |
| Marshall Wace, Llp | 69,100 | new |
| Invesco Ltd. | 42,945 | -4,179 |
| SmartHarvest Portfolios, LLC | 41,694 | +1,382 |
| Kamunting Street Capital Management, L.P. | 38,070 | 0 |
Insiders
3 insiders reported holding 102,535 shares in total, about $212.2K at the last price.
| Holder | Shares |
|---|---|
| Luo PeterChief Executive Officer, Director | 88,535 |
| Tam Man KinChief Financial Officer, Director | 12,000 |
| Do Cuong VDirector | 2,000 |
Questions about ADAG
What does Adagene Inc. do?
Adagene Inc. is a company in the Health care sector, listed on NASDAQ as ADAG. Its shares trade on NASDAQ under the ticker ADAG.
What is Adagene Inc.'s net worth?
Adagene Inc. has a market value (market cap) of $136.7M at the latest share price, and shareholders' equity of $35.3M on its balance sheet at December 31, 2025. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is Adagene Inc. profitable?
No. In fiscal 2025 it reported a net loss of $17.6M on revenue of $7.7M.
How much revenue does Adagene Inc. make?
In fiscal 2025 Adagene Inc. reported revenue of $7.7M. That is 7,332.8% more than a year earlier.
When did Adagene Inc. last report?
Its most recent periodic report is the annual report (foreign issuer) (20-F) filed on April 1, 2026. It covers the period to December 31, 2025. Its newest filing of any kind is the foreign issuer update from November 9, 2026.
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Where the numbers come from
Financial figures are the values Adagene Inc. tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.