Avidity Biosciences, Inc. Stock Price, News & Analysis

Avidity Biosciences (Nasdaq: RNA) has partnered with the FSHD Society to raise awareness of facioscapulohumeral muscular dystrophy (FSHD) on World FSHD Day. In a webinar today at 1:00 p.m. ET, they will present promising initial data from their Phase 1/2 FORTITUDE trial. The trial investigates del-brax, the first therapy targeting the root cause of FSHD, showing over 50% reduction in DUX4 regulated genes and functional improvements for participants. Avidity emphasizes their commitment to advancing treatments for FSHD, a debilitating genetic disorder. The FSHD Society, a leading patient organization, supports this initiative, hopeful for a potential treatment from the FORTITUDE study.

Avidity Biosciences has concluded an upsized public offering of 12,132,500 shares of common stock, priced at $38.00 per share, including 1,582,500 shares sold under the underwriters' option. The gross proceeds from the offering amount to $461 million before deductions. The funds will support the development of Avidity's clinical programs, research and development of its AOC platform, and general corporate purposes. Joint bookrunning managers for the offering included TD Cowen, Leerink Partners, Cantor, Barclays, and Wells Fargo Securities. The offering was made under an automatically effective shelf registration filed with the SEC.

Avidity Biosciences (Nasdaq: RNA), a biopharmaceutical company focused on developing RNA therapeutics known as Antibody Oligonucleotide Conjugates (AOCs™), announced its participation in the TD Cowen Genetic Medicines & RNA Summit on June 20, 2024. The presentation will occur at 8:20 a.m. PT/11:20 a.m. ET. A live webcast and replay of the event will be accessible on Avidity’s investor relations webpage.

Avidity Biosciences (Nasdaq: RNA) announced the pricing of a public offering of 10,550,000 shares of its common stock at $38.00 per share, expected to raise $400.9 million in gross proceeds. The offering is set to close around June 17, 2024, pending customary conditions. Avidity has also provided underwriters a 30-day option to purchase up to an additional 1,582,500 shares. Proceeds will support the development of clinical programs, research on its AOC platform, and general corporate purposes. TD Cowen, Leerink Partners, Cantor, Barclays, and Wells Fargo are the joint bookrunning managers.

Avidity Biosciences announced a proposed public offering to sell $300 million of common stock, with an additional $45 million available via a 30-day underwriters' option. The proceeds will fund clinical program development, AOC platform R&D, working capital, and general corporate purposes. Completion of the offering is subject to market conditions, and the terms are uncertain. Joint bookrunning managers include TD Cowen, Leerink Partners, Cantor, Barclays, and Wells Fargo Securities. The offering is pursuant to an automatically effective shelf registration statement filed with the SEC.

Avidity Biosciences announced positive results from its Phase 1/2 FORTITUDE trial for AOC 1020 (delpacibart braxlosiran), targeting facioscapulohumeral muscular dystrophy (FSHD). The therapy showed over 50% reduction in DUX4 regulated genes and improvements in muscle strength and function after four months at a 2 mg/kg dose. All adverse events were mild or moderate. The company plans to accelerate the registrational cohorts of the trial. Delpacibart braxlosiran directly targets the root cause of FSHD, a rare genetic disorder with no approved treatments. The data will be presented at the FSHD Society International Research Congress. The company also hosted a virtual investor event to discuss these findings.

Avidity Biosciences (Nasdaq: RNA) will present preliminary data from the Phase 1/2 FORTITUDE™ trial of AOC 1020 targeting facioscapulohumeral muscular dystrophy (FSHD) at the 31st Annual FSHD Society International Research Congress in Denver, CO. Dr. Jeffrey M. Statland, a trial investigator, will join Avidity's management for the presentations. The data will be discussed in an oral presentation on June 14, 2024, and a poster presentation on June 13, 2024, focusing on increasing diversity in clinical trial participation. A live webcast event to discuss the trial's preliminary data will be held on June 12, 2024, at 8:00 a.m. ET, with a replay available afterward on the company's website.

Avidity Biosciences, a biopharmaceutical company specializing in RNA therapeutics, announced inducement grants under Nasdaq Listing Rule 5635(c)(4) on May 20, 2024.

The Human Capital Management Committee granted stock option awards for 150,500 shares and 33,250 restricted stock units (RSUs) to seven new non-executive employees.

The stock options, priced at $29.24 per share, will vest over four years with 25% vesting after one year and the remainder vesting monthly.

RSUs will vest in four equal annual installments, contingent on continued employment.

These awards are part of the 2022 Employment Inducement Incentive Award Plan, targeting new employees as a material inducement for employment, in accordance with Nasdaq Listing Rule 5635(c)(4).

Avidity Biosciences (Nasdaq: RNA) announced the appointment of Simona Skerjanec to its board of directors. Ms. Skerjanec brings nearly three decades of pharmaceutical experience, specializing in developing and launching therapies, and corporate strategy. Her roles at Roche, The Medicines Company, Eli Lilly, Pfizer, and Johnson & Johnson highlight her expertise in neurology, cardiology, and rare diseases. Avidity CEO Sarah Boyce emphasized the importance of Ms. Skerjanec’s experience in advancing Avidity's RNA therapeutic programs, including neuromuscular and precision cardiology. Ms. Skerjanec expressed her excitement to contribute to Avidity's mission of revolutionizing RNA therapeutics.