Adagene Presents New Data on Muzastotug at AACR Meeting
Adagene presented new data from two ongoing Phase 1b/2 studies of muzastotug in triple combination regimens at the American Association of Cancer Research annual meeting 2026, held April 17-22 in San Diego. Results support muzastotug's mechanistic advantages over traditional anti-CTLA-4 therapies, and its continued development as a potential backbone therapy in combination regimens for difficult-to-treat cancers. FDA has previously designated muzastotug in combination with Merck's anti-PD-1 therapy, KEYTRUDA, as a Fast Track product for adult patients with microsatellite stable metastatic colorectal cancer without current or active liver metastases. "At AACR, Adagene shared new data from two triplet regimens supporting muzastotug's potential as a combination backbone for multiple tumor types," said Peter Luo, CEO at Adagene. "In HCC, adding muzastotug to the atezolizumab plus bevacizumab combo resulted in higher efficacy, with a safety profile consistent with historical studies of the doublet alone. In MSS CRC, adding muzastotug to pembrolizumab plus fruquintinib showed dose-dependent response rates, with no DLTs or Grade 4 or 5 treatment related adverse events. As muzastotug continues to generate more data in additional settings, we are increasingly convinced that its intentionally designed wider therapeutic index has potential to improve the efficacy of current immunotherapies without worsening the toxicity for patients with difficult to treat solid tumors."
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- Investor Meeting Schedule: Adagene will participate in the Stifel Annual Virtual Oncology Event on May 19-20, 2026, and hold one-on-one investor meetings at the Jefferies Global Healthcare Conference from June 2-4, 2026, showcasing its advancements in antibody therapies.
- Platform Technology Advantage: Leveraging its Dynamic Precision Library (DPL) platform, Adagene combines computational biology and artificial intelligence to develop innovative antibodies targeting the tumor microenvironment, aiming to address globally unmet patient needs and enhance its market competitiveness.
- Clinical Research Progress: The company's lead clinical program, muzastotug (ADG126), has received FDA Fast Track designation and focuses on microsatellite stable metastatic colorectal cancer, demonstrating potential in antibody therapy and offering new treatment options for patients.
- Strategic Partnerships: Adagene has established strategic collaborations with reputable global partners to leverage its SAFEbody precision masking technology across various antibody therapeutic modalities, further solidifying its leadership position in the biotechnology sector.
- Profit Growth: Adani Total Gas reported an increase in fourth-quarter profits, supported by rising compressed natural gas demand and steady growth in household piped natural gas connections, which boosted overall sales volumes.
- Increased Market Demand: The surge in compressed natural gas demand significantly enhanced the company's overall sales volumes, reflecting ongoing market interest and demand for cleaner energy solutions.
- Household Connection Growth: The steady increase in household piped natural gas connections not only contributed to the company's performance but also indicates consumer preference for more convenient energy solutions.
- Future Outlook: The growth potential in both compressed natural gas and household piped natural gas sectors suggests a promising trajectory for sustained profitability and market share expansion in the future.

- Significant Efficacy Improvement: In a Phase 1b/2 trial for locally advanced or metastatic hepatocellular carcinoma (HCC), the triple combination of muzastotug with atezolizumab and bevacizumab achieved a 66.7% overall response rate, markedly higher than the 32.5% in the control arm, indicating substantial potential for enhanced treatment outcomes.
- Good Safety Profile: The triple regimen demonstrated a safety profile comparable to historical studies of the doublet, with 50% of patients experiencing grade 3 or higher treatment-related adverse events, supporting the continuous dosing of muzastotug and potentially offering better tolerability for patients.
- Dose-Dependent Response: In a Phase 1b/2 trial for microsatellite stable colorectal cancer, the combination of muzastotug with pembrolizumab and fruquintinib exhibited response rates of 25% and 40% at doses of 10 mg/kg and 15 mg/kg, respectively, highlighting the regimen's efficacy across different dosing levels.
- FDA Fast Track Designation: The combination of muzastotug with KEYTRUDA has received FDA Fast Track designation, underscoring its potential in treating microsatellite stable metastatic colorectal cancer and further advancing Adagene's strategic development in cancer immunotherapy.
- New Member Addition: Adagene has announced the appointment of Dr. Peter Lebowitz to its Scientific and Strategic Advisory Board, whose extensive experience in expediting breakthrough therapies is expected to enhance the clinical development of ADG126, particularly in strategic planning for registration studies.
- Technological Innovation: Lebowitz highlighted the innovative nature of Adagene's SAFEbody technology in CTLA-4 targeted therapies, enabling tumor-selective activation of ADG126 and precise depletion of regulatory T cells in the tumor microenvironment, demonstrating promising clinical activity in late-line MSS CRC patients.
- Industry Experience: Previously, Lebowitz served as the Global Head of Oncology R&D at Johnson & Johnson, where he successfully brought 13 new drugs to market with over 60 approvals, and his innovative approach to drug development will provide valuable insights and strategic guidance for Adagene.
- Future Outlook: Adagene is committed to developing novel antibodies to address globally unmet patient needs through its Dynamic Precision Library platform, and Lebowitz's addition is expected to further enhance the company's R&D capabilities and market competitiveness.
- Offering Pricing: Adagene announced the pricing of 18.67 million American depositary shares (ADSs) at $3.75 each, with expected gross proceeds of approximately $70 million, demonstrating the company's ability to raise capital in the market.
- Investor Participation: The offering attracted participation from both new and existing investors, including Janus Henderson Investors, Deerfield Management, and Columbia Threadneedle Investments, indicating strong market confidence and support for Adagene.
- Closing Timeline: The public offering is expected to close on April 6, 2026, reflecting the company's proactive planning for future funding needs aimed at supporting its business growth.
- Market Reaction: Following the announcement of the offering, Adagene's stock price rose 12.03% in pre-market trading to $4.0552, showcasing a positive investor response to the financing activity.
- Stock Price Plunge: Adagene Inc. (ADAG) shares fell nearly 13% in pre-market trading on Thursday, reflecting negative market sentiment following the company's latest announcements, particularly regarding the public offering pricing.
- Public Offering Pricing: The company priced its $70 million public offering at $3.75 per ADS, representing a nearly 19% discount from Wednesday's closing price, indicating investor concerns about the company's future prospects.
- Clinical Trial Update: Adagene also provided an update on the Phase 1b/2 study of Muzastotug in combination with Keytruda for patients with microsatellite stable colorectal cancer, revealing improved durability of response among trial participants, potentially offering new hope for future treatments.
- Bearish Market Sentiment: Retail sentiment on Stocktwits around Adagene trended in the 'bearish' territory, suggesting a lack of confidence among investors regarding the company's future performance, which could further impact its stock price trajectory.






