SCHEDULE 13G/A: FIL Limited and Affiliates Disclose 1.8% Stake in Adagene Inc. Common Stock

FIL Limited, along with Pandanus Partners, L.P. and Pandanus Associates, Inc., has filed an amended Schedule 13G disclosing a beneficial ownership of 1.8% of Adagene Inc.'s common stock as of March 31, 2025.

Summary

• FIL Limited, a Bermuda-based entity, along with its affiliates Pandanus Partners, L.P. (Delaware) and Pandanus Associates, Inc. (Delaware), collectively reported beneficial ownership of 936,810 shares of Adagene Inc. common stock.
• This aggregate ownership represents 1.8% of the total class of Adagene Inc. common stock.
• FIL Limited holds sole voting power and sole dispositive power over all 936,810 shares.
• Pandanus Partners, L.P. and Pandanus Associates, Inc. each hold sole dispositive power over the 936,810 shares, but no sole or shared voting power.
• The filing indicates that the securities were not acquired or held for the purpose of changing or influencing the control of Adagene Inc.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing disclosing beneficial ownership, which is neutral in sentiment. It provides factual information without expressing positive or negative outlooks.

Future Outlook

The document is a disclosure of beneficial ownership and does not contain any forward-looking statements or guidance regarding Adagene Inc.'s future performance or operations.

Industry Context

This Schedule 13G filing is a routine disclosure of institutional ownership, indicating that FIL Limited and its affiliates maintain a passive investment stake in Adagene Inc. It does not suggest any strategic shifts or significant industry trends, but rather reflects a portfolio allocation decision by a large investment manager.

Related Party Transactions

• Pandanus Partners, L.P. owns voting stock in FIL Limited, representing between 25% and 48.5% of total voting power.
• Pandanus Associates, Inc. acts as the general partner of Pandanus Partners, L.P.
• Pandanus is owned by trusts for the benefit of members of the Johnson family, including FIL's Chairman Abigail P. Johnson, though beneficial ownership of the reported securities by such members is disclaimed.

Stakeholder Impact

• Shareholders: The filing indicates a stable, passive institutional ownership stake, which generally implies confidence from a large investor without suggesting immediate strategic changes or activist intentions.

Key Dates

Keywords

Adagene Inc., FIL Limited, Pandanus Partners, Pandanus Associates, Schedule 13G, Beneficial Ownership, Common Stock, SEC Filing, Institutional Ownership