On this page of StockholderLetter.com we present the latest annual shareholder letter from Aadi Bioscience, Inc. — ticker symbol AADI. Reading current and past AADI letters to shareholders can bring important insights into the investment thesis.


123456  849458  
85 1 34358  926  
5 92 5     3883 2  
             6          


+   92219,  5-  4  -1 81924  4   85 43 2  #.      # &/*   "  4 5  85 1 34358  5 92 5  9 4   "  #.     
" '    )  0  1 2  3) '  ) /)/  6)1)45)'  .#      .  
6  4 928343 2  5-  4  -1 81924  4   85 43 2  #.      # &/*   "  4 5  85 1 34358  5 92 5  9 4   "  #.   
" '    )   '          7)'  /  0' 4                      
 44        " 2)  2845)'    #$.9 :   

9963  ;3 8 352 5   32    
&5< 1     4)   0  )    '          7)1 0 )/             ' )'*  
6)2 = ')  
:#$#  >9    
&3  8   5472 3)'  
&8   )   '     )'  ?8'  / 1       0  
  1 '7 '        '   '    @     *  
3/)   0 1       2  *  
#>.9.  88  )   ; 82)A '/  88  )  9      - 1 0 1  - 2   /)    9  
&B 7   /)*  
&9//')     0  7'  1 7 2  )<)18  A)   00 1) *  
)    '   C    )2)7   )   845)'     128/      ')   1 /)D  &   *  >  $9     
EFGHIJKJFL  IFMJLKFIFN  OHILHPQK  KR  EFGKJRQ  STUVW  RX  KYF  ZGK[  
\JK]F  RX  FPGY  G]PLL    
\IPNJQM  E^_VR]ULW  
`P_F  RX  FPGY  FaGYPQMF  RQ  bYJGY  IFMJLKFIFN  
cR__RQ  LKRGde  fghgggS  OPI  iP]HF  OFI  LYPIF  
ZZjk  
\YF    PLNPl  EKRGd  mPIdFK  nnc  
EFGHIJKJFL  IFMJLKFIFN  OHILHPQK  KR  LFGKJRQ  STUMW  RX  KYF  ZGK[  2  )  
kQNJGPKF  V^  GYFGd  _PId  JX  KYF  IFMJLKIPQK  JL  P  bF]]odQRbQ  LFPLRQFN  JLLHFIe  PL  NFXJQFN  JQ  pH]F  qgr  RX  KYF  EFGHIJKJFL  ZGKh  sFL  6    R  +  
kQNJGPKF  V^  GYFGd  _PId  JX  KYF  IFMJLKIPQK  JL  QRK  IFlHJIFN  KR  XJ]F  IFORIKL  OHILHPQK  KR  EFGKJRQ  St  RI  SrUNW  RX  KYF  ZGKh  sFL  6    R  +  
kQNJGPKF  V^  GYFGd  _PId  bYFKYFI  KYF  IFMJLKIPQK  USW  YPL  XJ]FN  P]]  IFORIKL  IFlHJIFN  KR  VF  XJ]FN  V^  EFGKJRQ  St  RI  SrUNW  RX  KYF  EFGHIJKJFL  uaGYPQMF  ZGK  RX  Svtq  
NHIJQM  KYF  OIFGFNJQM  ST  _RQKYL  URI  XRI  LHGY  LYRIKFI  OFIJRN  KYPK  KYF  IFMJLKIPQK  bPL  IFlHJIFN  KR  XJ]F  LHGY  IFORIKLWe  PQN  UTW  YPL  VFFQ  LHVwFGK  KR  LHGY  XJ]JQM  
IFlHJIF_FQKL  XRI  KYF  OPLK  vg  NP^Lh  sFL  +    R  6  
kQNJGPKF  V^  GYFGd  _PId  bYFKYFI  KYF  IFMJLKIPQK  YPL  LHV_JKKFN  F]FGKIRQJGP]]^  FiFI^  kQKFIPGKJiF  jPKP  xJ]F  IFlHJIFN  KR  VF  LHV_JKKFN  OHILHPQK  KR  pH]F  qgr  RX  
pFMH]PKJRQ  Eo\  UyTtThqgr  RX  KYJL  GYPOKFIW  NHIJQM  KYF  OIFGFNJQM  ST  _RQKYL  URI  XRI  LHGY  LYRIKFI  OFIJRN  KYPK  KYF  IFMJLKIPQK  bPL  IFlHJIFN  KR  LHV_JK  LHGY  XJ]FLWh  
sFL  +    R  6  
kQNJGPKF  V^  GYFGd  _PId  bYFKYFI  KYF  IFMJLKIPQK  JL  P  ]PIMF  PGGF]FIPKFN  XJ]FIe  PQ  PGGF]FIPKFN  XJ]FIe  P  QRQoPGGF]FIPKFN  XJ]FIe  P  L_P]]FI  IFORIKJQM  GR_OPQ^e  RI  PQ  
F_FIMJQM  MIRbKY  GR_OPQ^h  EFF  KYF  NFXJQJKJRQL  RX  z]PIMF  PGGF]FIPKFN  XJ]FIe{  zPGGF]FIPKFN  XJ]FIe{  zL_P]]FI  IFORIKJQM  GR_OPQ^e{  PQN  zF_FIMJQM  MIRbKY  
GR_OPQ^{  JQ  pH]F  STVoT  RX  KYF  uaGYPQMF  ZGKh  
nPIMF  PGGF]FIPKFN  XJ]FI  
6    
ZGGF]FIPKFN  XJ]FI  
6  
`RQoPGGF]FIPKFN  XJ]FI  
E_P]]FI  IFORIKJQM  GR_OPQ^  

u_FIMJQM  MIRbKY  GR_OPQ^  
6    

kX  PQ  F_FIMJQM  MIRbKY  GR_OPQ^e  JQNJGPKF  V^  GYFGd  _PId  JX  KYF  IFMJLKIPQK  YPL  F]FGKFN  QRK  KR  HLF  KYF  FaKFQNFN  KIPQLJKJRQ  OFIJRN  XRI  GR_O]^JQM  bJKY  PQ^  QFb  
RI  IFiJLFN  XJQPQGJP]  PGGRHQKJQM  LKPQNPINL  OIRiJNFN  OHILHPQK  KR  EFGKJRQ  StUPW  RX  KYF  uaGYPQMF  ZGKh  6  
kQNJGPKF  V^  GYFGd  _PId  bYFKYFI  KYF  IFMJLKIPQK  YPL  XJ]FN  P  IFORIK  RQ  PQN  PKKFLKPKJRQ  KR  JKL  _PQPMF_FQK|L  PLLFLL_FQK  RX  KYF  FXXFGKJiFQFLL  RX  JKL  JQKFIQP]  
GRQKIR]  RiFI  XJQPQGJP]  IFORIKJQM  HQNFI  EFGKJRQ  qgqUVW  RX  KYF  EPIVPQFLo}a]F^  ZGK  USr  ~hEhch   T  TUVWW  V^  KYF  IFMJLKFIFN  OHV]JG  PGGRHQKJQM  XJI_  KYPK  
OIFOPIFN  RI  JLLHFN  JKL  PHNJK  IFORIKh  6  
kX  LFGHIJKJFL  PIF  IFMJLKFIFN  OHILHPQK  KR  EFGKJRQ  STUVW  RX  KYF  ZGKe  JQNJGPKF  V^  GYFGd  _PId  bYFKYFI  KYF  XJQPQGJP]  LKPKF_FQKL  RX  KYF  IFMJLKIPQK  JQG]HNFN  JQ  KYF  
XJ]JQM  IFX]FGK  KYF  GRIIFGKJRQ  RX  PQ  FIIRI  KR  OIFiJRHL]^  JLLHFN  XJQPQGJP]  LKPKF_FQKLh  6  
kQNJGPKF  V^  GYFGd  _PId  bYFKYFI  PQ^  RX  KYRLF  FIIRI  GRIIFGKJRQL  PIF  IFLKPKF_FQKL  KYPK  IFlHJIFN  P  IFGRiFI^  PQP]^LJL  RX  JQGFQKJiFoVPLFN  GR_OFQLPKJRQ  IFGFJiFN  
V^  PQ^  RX  KYF  IFMJLKIPQK|L  FaFGHKJiF  RXXJGFIL  NHIJQM  KYF  IF]FiPQK  IFGRiFI^  OFIJRN  OHILHPQK  KR  yTqghSgjoSUVWh    6  
kQNJGPKF  V^  GYFGd  _PId  bYFKYFI  KYF  IFMJLKIPQK  JL  P  LYF]]  GR_OPQ^  UPL  NFXJQFN  JQ  pH]F  STVoT  RX  KYF  uaGYPQMF  ZGKWh  suE  6    }  +  
\YF  PMMIFMPKF  _PIdFK  iP]HF  RX  KYF  iRKJQM  PQN  QRQoiRKJQM  GR__RQ  FlHJK^  YF]N  V^  QRQoPXXJ]JPKFL  RX  KYF  IFMJLKIPQKe  VPLFN  RQ  KYF  G]RLJQM  OIJGF  RX  KYF  LYPIFL  
RX  GR__RQ  LKRGd  RQ  \YF    ZEjZ    EKRGd  mPIdFK  RQ    HQF  tge  TgTt  bPL  POOIRaJ_PKF]^  fSSgh    _J]]JRQh
123  456738  9  283  9  83  84     96694   9    95  4  4     9    8 2                             

.98  94  9   23  /3  84     3 4   03  .8912  3  3634   834  4   9            54454   33  4  9  3 9  294 38   9  73   43      2   23  33 58   3  4   61 243  
7966  94  85854    9  /354  94  9 5  49   4 38   24  9     2    38   23  34   9   23    4  238   90383   72   2   54454  /3898   94  :986  9 ;<  83  
 4 98898 3   2383 4  72  833834 3   4  .8   ===  9   2   54454  /3898   94  :986  9 ;<   2383   4    3



23456  89  8 6   
 3 6  
   2        
      0              
      0          !"# $%   
      0     ( %  $)* +  , "--  .$        
      0.    .01 %  # %  0  
      2    3%$4 %      
      &    5 6")  3%$#  +  6   
           7     ,"-  0  8  #)$  %    
   2         
      '    7"%    -$%    6   %"  9   .$  $   :;   0<    )"  +  , $#=$)+ %  7"   %   " +       %  3 %#="     $-  
:;   0  , # %       
      A    7" "6     9   8  #    $   " +    ")0     $-  !  " # ")  .$ +   $   " +      )    $-  B4 %"  $    
      A     C "    "  *   " +  C ")  "  *   8  #)$  %     1$    7"%         
      D    !  " # ")  , "         " +  , 44)     "%0  8" "  
      E    .=" 6        " +  8  "6%         F  =   ##$   "     $    ##$     6  " +  !  " # ")  8  #)$  %   
      E     .$  %$)   " +  3%$# + %    
      E     B = %    -$% "  $   
      E.    8  #)$  %     6"%+  6  !$%  6   G %  + #  $     ="   3% *        4 #  $   
 3H          
      0/    8 % # $% <  :I #   *   B-- # %   " +  .$%4$%"    J$* % " #   
      00    :I #   *   .$ 4   "  $   
      02    , # %  0  BF  % = 4  $-  . % "        - # ")  BF  %   " +  7" "6       " +    )"  +  , $#=$)+ %  
7"   %     
      0&   . % "      )"  $  = 4   " +    )"  +  K%"  "#  $  <  " +  8 % # $%    + 4  +  #     
      0    3%  # 4")   ##$   "    !     " +  , %* #    
   2   L     
      0'    :I= 1     " +  !  " # ")  , "        ,#= + )    
      0>      !$%   $-  0/MN  ,   "%0  
0  

0//  
0//  
0/0  
0/0  
0/0  
0/2  
0/2  
0/&  
00&  
00&  
0 0  
0 0  
0 0  
0 0  
0 2  
0 2  
0 2  
0 2  
0 2  
0 &  
0 '
 • shareholder letter icon 4/26/2024 Letter Continued (Full PDF)
 • stockholder letter icon 4/28/2023 AADI Stockholder Letter
 • stockholder letter icon More "Biotechnology" Category Stockholder Letters
 • Benford's Law Stocks icon AADI Benford's Law Stock Score = 77


AADI Shareholder/Stockholder Letter Transcript:




123456  849458  
85 1 34358  926  
5 92 5     3883 2  
             6          


+   92219,  5-  4  -1 81924  4   85 43 2  #.      # &/*   "  4 5  85 1 34358  5 92 5  9 4   "  #.     
" '    )  0  1 2  3) '  ) /)/  6)1)45)'  .#      .  
6  4 928343 2  5-  4  -1 81924  4   85 43 2  #.      # &/*   "  4 5  85 1 34358  5 92 5  9 4   "  #.   
" '    )   '          7)'  /  0' 4                      
 44        " 2)  2845)'    #$.9 :   

9963  ;3 8 352 5   32    
&5< 1     4)   0  )    '          7)1 0 )/             ' )'*  
6)2 = ')  
:#$#  >9    
&3  8   5472 3)'  
&8   )   '     )'  ?8'  / 1       0  
  1 '7 '        '   '    @     *  
3/)   0 1       2  *  
#>.9.  88  )   ; 82)A '/  88  )  9      - 1 0 1  - 2   /)    9  
&B 7   /)*  
&9//')     0  7'  1 7 2  )<)18  A)   00 1) *  
)    '   C    )2)7   )   845)'     128/      ')   1 /)D  &   *  >  $9     
EFGHIJKJFL  IFMJLKFIFN  OHILHPQK  KR  EFGKJRQ  STUVW  RX  KYF  ZGK[  
\JK]F  RX  FPGY  G]PLL    
\IPNJQM  E^_VR]ULW  
`P_F  RX  FPGY  FaGYPQMF  RQ  bYJGY  IFMJLKFIFN  
cR__RQ  LKRGde  fghgggS  OPI  iP]HF  OFI  LYPIF  
ZZjk  
\YF    PLNPl  EKRGd  mPIdFK  nnc  
EFGHIJKJFL  IFMJLKFIFN  OHILHPQK  KR  LFGKJRQ  STUMW  RX  KYF  ZGK[  2  )  
kQNJGPKF  V^  GYFGd  _PId  JX  KYF  IFMJLKIPQK  JL  P  bF]]odQRbQ  LFPLRQFN  JLLHFIe  PL  NFXJQFN  JQ  pH]F  qgr  RX  KYF  EFGHIJKJFL  ZGKh  sFL  6    R  +  
kQNJGPKF  V^  GYFGd  _PId  JX  KYF  IFMJLKIPQK  JL  QRK  IFlHJIFN  KR  XJ]F  IFORIKL  OHILHPQK  KR  EFGKJRQ  St  RI  SrUNW  RX  KYF  ZGKh  sFL  6    R  +  
kQNJGPKF  V^  GYFGd  _PId  bYFKYFI  KYF  IFMJLKIPQK  USW  YPL  XJ]FN  P]]  IFORIKL  IFlHJIFN  KR  VF  XJ]FN  V^  EFGKJRQ  St  RI  SrUNW  RX  KYF  EFGHIJKJFL  uaGYPQMF  ZGK  RX  Svtq  
NHIJQM  KYF  OIFGFNJQM  ST  _RQKYL  URI  XRI  LHGY  LYRIKFI  OFIJRN  KYPK  KYF  IFMJLKIPQK  bPL  IFlHJIFN  KR  XJ]F  LHGY  IFORIKLWe  PQN  UTW  YPL  VFFQ  LHVwFGK  KR  LHGY  XJ]JQM  
IFlHJIF_FQKL  XRI  KYF  OPLK  vg  NP^Lh  sFL  +    R  6  
kQNJGPKF  V^  GYFGd  _PId  bYFKYFI  KYF  IFMJLKIPQK  YPL  LHV_JKKFN  F]FGKIRQJGP]]^  FiFI^  kQKFIPGKJiF  jPKP  xJ]F  IFlHJIFN  KR  VF  LHV_JKKFN  OHILHPQK  KR  pH]F  qgr  RX  
pFMH]PKJRQ  Eo\  UyTtThqgr  RX  KYJL  GYPOKFIW  NHIJQM  KYF  OIFGFNJQM  ST  _RQKYL  URI  XRI  LHGY  LYRIKFI  OFIJRN  KYPK  KYF  IFMJLKIPQK  bPL  IFlHJIFN  KR  LHV_JK  LHGY  XJ]FLWh  
sFL  +    R  6  
kQNJGPKF  V^  GYFGd  _PId  bYFKYFI  KYF  IFMJLKIPQK  JL  P  ]PIMF  PGGF]FIPKFN  XJ]FIe  PQ  PGGF]FIPKFN  XJ]FIe  P  QRQoPGGF]FIPKFN  XJ]FIe  P  L_P]]FI  IFORIKJQM  GR_OPQ^e  RI  PQ  
F_FIMJQM  MIRbKY  GR_OPQ^h  EFF  KYF  NFXJQJKJRQL  RX  z]PIMF  PGGF]FIPKFN  XJ]FIe{  zPGGF]FIPKFN  XJ]FIe{  zL_P]]FI  IFORIKJQM  GR_OPQ^e{  PQN  zF_FIMJQM  MIRbKY  
GR_OPQ^{  JQ  pH]F  STVoT  RX  KYF  uaGYPQMF  ZGKh  
nPIMF  PGGF]FIPKFN  XJ]FI  
6    
ZGGF]FIPKFN  XJ]FI  
6  
`RQoPGGF]FIPKFN  XJ]FI  
E_P]]FI  IFORIKJQM  GR_OPQ^  

u_FIMJQM  MIRbKY  GR_OPQ^  
6    

kX  PQ  F_FIMJQM  MIRbKY  GR_OPQ^e  JQNJGPKF  V^  GYFGd  _PId  JX  KYF  IFMJLKIPQK  YPL  F]FGKFN  QRK  KR  HLF  KYF  FaKFQNFN  KIPQLJKJRQ  OFIJRN  XRI  GR_O]^JQM  bJKY  PQ^  QFb  
RI  IFiJLFN  XJQPQGJP]  PGGRHQKJQM  LKPQNPINL  OIRiJNFN  OHILHPQK  KR  EFGKJRQ  StUPW  RX  KYF  uaGYPQMF  ZGKh  6  
kQNJGPKF  V^  GYFGd  _PId  bYFKYFI  KYF  IFMJLKIPQK  YPL  XJ]FN  P  IFORIK  RQ  PQN  PKKFLKPKJRQ  KR  JKL  _PQPMF_FQK|L  PLLFLL_FQK  RX  KYF  FXXFGKJiFQFLL  RX  JKL  JQKFIQP]  
GRQKIR]  RiFI  XJQPQGJP]  IFORIKJQM  HQNFI  EFGKJRQ  qgqUVW  RX  KYF  EPIVPQFLo}a]F^  ZGK  USr  ~hEhch   T  TUVWW  V^  KYF  IFMJLKFIFN  OHV]JG  PGGRHQKJQM  XJI_  KYPK  
OIFOPIFN  RI  JLLHFN  JKL  PHNJK  IFORIKh  6  
kX  LFGHIJKJFL  PIF  IFMJLKFIFN  OHILHPQK  KR  EFGKJRQ  STUVW  RX  KYF  ZGKe  JQNJGPKF  V^  GYFGd  _PId  bYFKYFI  KYF  XJQPQGJP]  LKPKF_FQKL  RX  KYF  IFMJLKIPQK  JQG]HNFN  JQ  KYF  
XJ]JQM  IFX]FGK  KYF  GRIIFGKJRQ  RX  PQ  FIIRI  KR  OIFiJRHL]^  JLLHFN  XJQPQGJP]  LKPKF_FQKLh  6  
kQNJGPKF  V^  GYFGd  _PId  bYFKYFI  PQ^  RX  KYRLF  FIIRI  GRIIFGKJRQL  PIF  IFLKPKF_FQKL  KYPK  IFlHJIFN  P  IFGRiFI^  PQP]^LJL  RX  JQGFQKJiFoVPLFN  GR_OFQLPKJRQ  IFGFJiFN  
V^  PQ^  RX  KYF  IFMJLKIPQK|L  FaFGHKJiF  RXXJGFIL  NHIJQM  KYF  IF]FiPQK  IFGRiFI^  OFIJRN  OHILHPQK  KR  yTqghSgjoSUVWh    6  
kQNJGPKF  V^  GYFGd  _PId  bYFKYFI  KYF  IFMJLKIPQK  JL  P  LYF]]  GR_OPQ^  UPL  NFXJQFN  JQ  pH]F  STVoT  RX  KYF  uaGYPQMF  ZGKWh  suE  6    }  +  
\YF  PMMIFMPKF  _PIdFK  iP]HF  RX  KYF  iRKJQM  PQN  QRQoiRKJQM  GR__RQ  FlHJK^  YF]N  V^  QRQoPXXJ]JPKFL  RX  KYF  IFMJLKIPQKe  VPLFN  RQ  KYF  G]RLJQM  OIJGF  RX  KYF  LYPIFL  
RX  GR__RQ  LKRGd  RQ  \YF    ZEjZ    EKRGd  mPIdFK  RQ    HQF  tge  TgTt  bPL  POOIRaJ_PKF]^  fSSgh    _J]]JRQh  


123  456738  9  283  9  83  84     96694   9    95  4  4     9    8 2                             

.98  94  9   23  /3  84     3 4   03  .8912  3  3634   834  4   9            54454   33  4  9  3 9  294 38   9  73   43      2   23  33 58   3  4   61 243  
7966  94  85854    9  /354  94  9 5  49   4 38   24  9     2    38   23  34   9   23    4  238   90383   72   2   54454  /3898   94  :986  9 ;<  83  
 4 98898 3   2383 4  72  833834 3   4  .8   ===  9   2   54454  /3898   94  :986  9 ;<   2383   4    3    






23456  89  8 6   
 3 6  
   2        
      0              
      0          !"# $%   
      0     ( %  $)* +  , "--  .$        
      0.    .01 %  # %  0  
      2    3%$4 %      
      &    5 6")  3%$#  +  6   
           7     ,"-  0  8  #)$  %    
   2         
      '    7"%    -$%    6   %"  9   .$  $   :;   0<    )"  +  , $#=$)+ %  7"   %   " +       %  3 %#="     $-  
:;   0  , # %       
      A    7" "6     9   8  #    $   " +    ")0     $-  !  " # ")  .$ +   $   " +      )    $-  B4 %"  $    
      A     C "    "  *   " +  C ")  "  *   8  #)$  %     1$    7"%         
      D    !  " # ")  , "         " +  , 44)     "%0  8" "  
      E    .=" 6        " +  8  "6%         F  =   ##$   "     $    ##$     6  " +  !  " # ")  8  #)$  %   
      E     .$  %$)   " +  3%$# + %    
      E     B = %    -$% "  $   
      E.    8  #)$  %     6"%+  6  !$%  6   G %  + #  $     ="   3% *        4 #  $   
 3H          
      0/    8 % # $% <  :I #   *   B-- # %   " +  .$%4$%"    J$* % " #   
      00    :I #   *   .$ 4   "  $   
      02    , # %  0  BF  % = 4  $-  . % "        - # ")  BF  %   " +  7" "6       " +    )"  +  , $#=$)+ %  
7"   %     
      0&   . % "      )"  $  = 4   " +    )"  +  K%"  "#  $  <  " +  8 % # $%    + 4  +  #     
      0    3%  # 4")   ##$   "    !     " +  , %* #    
   2   L     
      0'    :I= 1     " +  !  " # ")  , "        ,#= + )    
      0>      !$%   $-  0/MN  ,   "%0  
0  

0//  
0//  
0/0  
0/0  
0/0  
0/2  
0/2  
0/&  
00&  
00&  
0 0  
0 0  
0 0  
0 0  
0 2  
0 2  
0 2  
0 2  
0 2  
0 &  
0 '  



shareholder letter icon 4/26/2024 Letter Continued (Full PDF)
 

AADI Stockholder/Shareholder Letter (Aadi Bioscience, Inc.) | www.StockholderLetter.com
Copyright © 2023 - 2025, All Rights Reserved

Nothing in StockholderLetter.com is intended to be investment advice, nor does it represent the opinion of, counsel from, or recommendations by BNK Invest Inc. or any of its affiliates, subsidiaries or partners. None of the information contained herein constitutes a recommendation that any particular security, portfolio, transaction, or investment strategy is suitable for any specific person. All viewers agree that under no circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held liable for any loss or damage caused by your reliance on information obtained. By visiting, using or viewing this site, you agree to the following Full Disclaimer & Terms of Use and Privacy Policy.