X0202 SCHEDULE 13G 0001764435 XXXXXXXX LIVE Common Stock, par value $0.0001 per share 09/30/2026 0001802369 ADARx Pharmaceuticals, Inc. 00654F105 5871 Oberlin Drive, Suite 200 San Diego CA 92121 Rule 13d-1(d) LAV Biosciences Fund V, L.P. b E9 0.00 11243179.00 0.00 11243179.00 11243179.00 10.5 PN LAV Fund VI, L.P. b E9 0.00 307738.00 0.00 307738.00 307738.00 0.3 PN LAV Fund VI Opportunities, L.P. b E9 0.00 307738.00 0.00 307738.00 307738.00 0.3 PN Yi Shi b X1 0.00 11858655.00 0.00 11858655.00 11858655.00 11.1 IN The amounts listed in rows 6 and 8 in the table above include 11,243,179 shares of the common stock of ADARx Pharmaceuticals, Inc. (the "Issuer") which are directly owned by LAV Biosciences Fund V, L.P. ("LAV V"), 307,738 shares of the Issuer's common stock which are directly owned by LAV Fund VI, L.P. ("LAV VI"), and 307,738 shares of the Issuer's common stock which are directly owned by LAV Fund VI Opportunities, L.P. ("LAV Opportunities"). Yi Shi, the managing partner of LAV V, LAV VI and LAV Opportunities, may be deemed to have shared power to vote and shared power to dispose of these shares. ADARx Pharmaceuticals, Inc. 5871 Oberlin Drive, Suite 200, San Diego, CA, 92121. LAV Biosciences Fund V, L.P. ("LAV V") LAV Fund VI, L.P. ("LAV VI") LAV Fund VI Opportunities, L.P. ("LAV Opportunities") Yi Shi ("Dr. Shi" and, together with LAV V, LAV VI, and LAV Opportunities, the "Reporting Persons") Dr. Shi is the managing partner of LAV V, LAV VI and LAV Opportunities, and may be deemed to have shared power to vote and shared power to dispose of shares of the Issuer directly owned by LAV V, LAV VI and LAV Opportunities. The address of the principal business office of each of the Reporting Persons is: Room 607, St. George's Building, 2 Ice House Street, Central, Hong Kong Each of LAV V, LAV VI, and LAV Opportunities is formed under the laws of the Cayman Islands. Dr. Shi is a citizen of the United States of America. Y Reference to "beneficial ownership" of securities for purposes of this statement (this "Statement") shall be understood to refer to beneficial ownership as that term is defined in Rule 13d-3 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). As of September 30, 2026, the Reporting Persons may be deemed to beneficially own an aggregate 11,858,655 shares of the Issuer's Common Stock. As of September 30, 2026, LAV V was the direct beneficial owner of 11,243,179 of the shares of the Issuer's Common Stock described in the preceding paragraph. LAV GP V, L.P. is the general partner of LAV V. LAV Corporate V GP, Ltd. is the general partner of LAV GP V, L.P. Dr. Shi is the managing partner of LAV Corporate V GP, Ltd. By virtue of these relationships, Dr. Shi, LAV GP V, L.P., and LAV Corporate V GP, Ltd. may be deemed to exercise voting and investment discretion over the shares held directly by LAV V. As of September 30, 2026, LAV VI was the direct beneficial owner of 307,738 of the shares of the Issuer's Common Stock described in the second paragraph of this Item 4(a). LAV GP VI, L.P. is the general partner of LAV VI. LAV Corporate VI GP, Ltd. is the general partner of LAV GP VI, L.P. Dr. Shi is the managing partner of LAV Corporate VI GP, Ltd. By virtue of these relationships, Dr. Shi, LAV GP VI, L.P., and LAV Corporate VI GP, Ltd. may be deemed to exercise voting and investment discretion over the shares held directly by LAV VI. As of September 30, 2026, LAV Opportunities was the direct beneficial owner of 307,738 of the shares of the Issuer's Common Stock described in the second paragraph of this Item 4(a). LAV GP VI Opportunities, L.P. is the general partner of LAV Opportunities. LAV Corporate VI GP Opportunities, Ltd. is the general partner of LAV GP VI Opportunities, L.P. Dr. Shi is the managing partner of LAV Corporate VI GP Opportunities, Ltd. By virtue of these relationships, Dr. Shi, LAV GP VI Opportunities, L.P., and LAV Corporate VI GP Opportunities, Ltd. may be deemed to exercise voting and investment discretion over the shares held directly by LAV Opportunities. Accordingly, as of September 30, 2026, Dr. Shi may be deemed the indirect beneficial owner of an aggregate 11,858,655 shares of the Issuer's Common Stock. The filing of this Statement shall not be construed as an admission that any party named herein is the beneficial owner of any other party's securities for purposes of Sections 13(d), 13(g), or 16 of the Exchange Act or for any other purpose, and each of the aforementioned parties disclaims such beneficial ownership. As of September 30, 2026, the Reporting Persons were deemed to directly or indirectly beneficially own an aggregate 11.1% of the Issuer's outstanding Common Stock. Of that percentage, beneficial ownership was attributable as follows: (i) 10.5%, directly to LAV V and indirectly to each of LAV GP V, L.P. and LAV Corporate V GP, Ltd.; (ii) 0.3%, directly to LAV VI and indirectly to each of LAV GP VI, L.P. and LAV Corporate VI GP, Ltd.; (iii) 0.3%, directly to LAV Opportunities and indirectly to each of LAV GP VI Opportunities, L.P. and LAV Corporate VI GP Opportunities, Ltd.; and (iv) 11.1% indirectly to Dr. Shi. The aforementioned percentages were calculated in accordance with Rule 13d-3(d)(1)(i) under the Exchange Act and based on a total of 106,801,325 shares of the Issuer's Common Stock outstanding, as reported by the Issuer in its prospectus (the "IPO Prospectus") filed with the U.S. Securities and Exchange Commission pursuant to Rule 424(b)(4) on September 28, 2026 (File No. 333-298782) assuming no exercise of the underwriters' option referenced in the IPO Prospectus. LAV V 0 LAV VI 0 LAV Opportunities 0 Dr. Shi 0 LAV V 11,243,179 LAV VI 307,738 LAV Opportunities 307,738 Dr. Shi 11,858,655 LAV V 0 LAV VI 0 LAV Opportunities 0 Dr. Shi 0 LAV V 11,243,179 LAV VI 307,738 LAV Opportunities 307,738 Dr. Shi 11,858,655 Y Y Y Y Y Y LAV Biosciences Fund V, L.P. /s/ Yi Shi 10/16/2026 LAV Fund VI, L.P. /s/ Yi Shi 10/16/2026 LAV Fund VI Opportunities, L.P. /s/ Yi Shi 10/16/2026 Yi Shi /s/ Yi Shi 10/16/2026