Evaluating Safety and Efficacy of ADX-914 in Patients With Moderate to Severe Atopic Dermatitis (SIGNAL-AD)

Inclusion Criteria:

1. Age ≥18 years, inclusive, at time of informed consent, with chronic AD (duration ofdisease ≥3 years) diagnosed by the Eichenfield revised criteria of Hanifin andRajka.

2. Moderate to severe disease activity at baseline and screening defined as:

3. BSA affected ≥10%

4. EASI Score ≥12

5. Investigators Global Score (IGA) ≥3

6. Who, in the opinion of the Investigator, have a history of inadequate response to atleast one of the following:

7. at least 4-week course of medium-potency topical steroids or other approvedtopical immunomodulators (calcineurin, PDE-4 and JAK inhibitors)

8. systemic steroids or phototherapy

9. oral chemical synthetic immunomodulators (MTX, mycophenolate mofetil,azathioprine, cyclosporine, systemic approved biologics [dupliumab, ustekinumabor tralokinumab]), or approved systemic targeted synthetic JAK inhibitors (upadacitinib, abrocitinib)

Exclusion Criteria:

1. Body weight ≤ 50.0 kg for men and ≤ 45.0 kg for women and > 120 kg at Screening

2. Rescue therapy, topical or systemic, need anticipated within 4 weeks ofrandomization

3. Recent (within 2 months of informed consent) or current clinically serious viral,bacterial, fungal, or parasitic infection or mycobacterial infection

4. A positive QuantiFERON®TB Gold test at Screening or history of tuberculosis (TB)

5. Have been exposed to a live vaccine within 12 weeks prior to planned randomizationor are expected to receive a live vaccine during the study

6. Systemic, topical or device-based therapy of AD

7. Serious concomitant illness that could require the use of systemic corticosteroidsor otherwise interfere with study participation or require active frequentmonitoring

8. Other concomitant skin conditions that would interfere with evaluations of theeffect of study medication on atopic dermatitis

9. Other active autoimmune diseases other than those above that would make it difficultto appropriately assess AD disease activity or pose a risk to the subject'sparticipation in the trial

10. Pregnant or lactating women, or women planning to become pregnant or initiatebreastfeeding.

11. History of sensitivity to any of the study treatments, or components thereof, or ahistory of drug or other allergy that, in the opinion of the Investigator,contraindicates their participation.

12. Has been in another investigational trial within 30 days or 5 half-lives of theinvestigational agent (whichever is greater) prior to the informed consent.