STOCK TITAN

Avidity Biosciences, Inc. - RNA STOCK NEWS

Welcome to our dedicated page for Avidity Biosciences news (Ticker: RNA), a resource for investors and traders seeking the latest updates and insights on Avidity Biosciences stock.

Avidity Biosciences, Inc. (Nasdaq: RNA) is a pioneering biopharmaceutical company dedicated to revolutionizing RNA therapeutics with its proprietary Antibody Oligonucleotide Conjugates (AOCs™). Their innovative approach merges the specificity of monoclonal antibodies with the precision of oligonucleotide therapies, enabling targeted treatment of diseases that were previously unreachable with existing RNA therapies. They are at the forefront of developing therapies for serious genetic conditions, predominantly focusing on rare muscle diseases.

Avidity's leading clinical programs include:

  • AOC 1001 (Del-desiran): Targeting Myotonic Dystrophy Type 1 (DM1), a disease with no approved therapies. Del-desiran has shown promising long-term data from the MARINA-OLE™ trial, demonstrating reversal of disease progression in patients. The global Phase 3 HARBOR™ trial is set to begin, with video hand opening time (vHOT) as the primary endpoint.
  • AOC 1044: Aimed at Duchenne Muscular Dystrophy (DMD) with mutations amenable to exon 44 skipping. Recently, it achieved Rare Pediatric Disease and Orphan Drug designations from the FDA and EMA. Positive preliminary data has been reported from the Phase 1/2 EXPLORE44™ clinical trial.
  • AOC 1020: Focused on Facioscapulohumeral Muscular Dystrophy (FSHD). Clinical data from the Phase 1/2 FORTITUDE™ trial is expected soon.

Avidity is also advancing its pipeline to include cardiology and immunology programs, aiming to target a broader range of diseases. The company has garnered support and collaborations with top-tier investors and strategic partners, enhancing its capability to deliver groundbreaking treatments.

With headquarters in San Diego, CA, Avidity Biosciences is committed to transforming lives through innovative RNA therapeutics. For more information, visit www.aviditybiosciences.com.

Rhea-AI Summary

Avidity Biosciences (Nasdaq: RNA) has been added to the Nasdaq Biotechnology Index effective December 21, 2020. This index tracks biotechnology and pharmaceutical securities listed on the NASDAQ Stock Market. Avidity focuses on developing a new class of therapies called Antibody Oligonucleotide Conjugates (AOCs) to treat serious diseases. Their lead candidate, AOC 1001, targets myotonic dystrophy type 1. The company is headquartered in La Jolla, California, and aims to overcome the limitations of traditional oligonucleotide therapies.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.27%
Tags
none
-
Rhea-AI Summary

Avidity Biosciences (RNA) reported Q3 2020 financial results, highlighting a strong cash position of $341 million, significantly up from $94.6 million at the end of 2019, thanks to its IPO. Collaboration revenue increased to $1.7 million from $0.7 million year-over-year, while R&D expenses rose to $9.5 million due to advancements in AOC 1001, aimed at treating myotonic dystrophy type 1. The company is focused on launching clinical studies for this therapy and expanding research into new tissues targeted by its innovative AOC platform.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.48%
Tags
-
Rhea-AI Summary

Avidity Biosciences (Nasdaq: RNA) will present at the Credit Suisse 29th Annual Virtual Healthcare Conference 2020 on November 12, 2020, at 8:45 am PST. Sarah Boyce, the President and CEO, will lead the presentation in a virtual format. A live webcast will be available on the company's website, with an archived replay accessible for one year. Avidity is focused on developing innovative oligonucleotide-based therapies, including their lead candidate AOC 1001 for treating myotonic dystrophy type 1, as well as therapies for muscle atrophy and other serious diseases.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.25%
Tags
conferences
Rhea-AI Summary

Avidity Biosciences, Inc. (Nasdaq: RNA), a biopharmaceutical company, will participate in the Chardan 4th Annual Genetic Medicines Conference 2020. The event is scheduled for October 5, 2020, at 12:45 pm PDT, featuring a fireside chat with key executives including CEO Sarah Boyce and CFO Mike MacLean. Additionally, Dr. Arthur Levin will join a panel on Small RNA Therapies on October 6, 2020, at 12:00 pm PDT. The conference will be held virtually, and a live webcast will be available on the company's website with a 90-day replay available.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.15%
Tags
conferences
-
Rhea-AI Summary

Avidity Biosciences (Nasdaq: RNA) announced its participation in several virtual scientific meetings to present advancements in its novel Antibody Oligonucleotide Conjugates (AOCs™) platform. Key presentations include:

  • TIDES USA 2020 on Sept. 16
  • OTS 2020 on Sept. 28
  • Next Generation Protein Therapeutics Summit on Nov. 5
  • TIDES Europe on Nov. 13
  • Neuromuscular Drug Development Summit on Dec. 3

CEO Art Levin highlighted AOC 1001's expected entry into Phase 1/2 trials for myotonic dystrophy type 1, aiming to address serious genetic diseases.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.53%
Tags
conferences
-
Rhea-AI Summary

Avidity Biosciences (Nasdaq: RNA) announced a collaboration to support END-DM1, a natural history study aimed at understanding disease progression in myotonic dystrophy type 1 (DM1). The study will enroll approximately 650 participants across the U.S. and Europe, helping inform the development of Avidity's lead program, AOC 1001. This program aims to provide a disease-modifying treatment for DM1 by reducing harmful DMPK mRNA levels. AOC 1001 is scheduled for a Phase 1/2 clinical trial initiation in 2021.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
5.75%
Tags
none
Rhea-AI Summary

Avidity Biosciences, Inc. (Nasdaq: RNA) announced that CEO Sarah Boyce will participate in a fireside chat at the 2020 Wells Fargo Virtual Healthcare Conference on September 10 at 9:00 am PT. The event will be held virtually, with a live webcast available on Avidity's website. A replay of the chat will be archived for 60 days. Avidity is focused on developing Antibody Oligonucleotide Conjugates (AOCs) aimed at treating serious diseases, including myotonic dystrophy type 1 and other muscle conditions.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.66%
Tags
conferences
-
Rhea-AI Summary

Avidity Biosciences, Inc. (Nasdaq: RNA) reported significant progress in Q2 2020, following its IPO on June 16, 2020, which raised $298.1 million. The company is advancing its pipeline of Antibody Oligonucleotide Conjugates (AOCs™), aiming to initiate three first-in-human studies by 2022. As of June 30, 2020, cash and cash equivalents reached $352.4 million, up from $94.6 million at the end of 2019. Collaboration revenue rose to $1.5 million in Q2 2020, compared to $0.2 million in Q2 2019. R&D expenses increased to $9.0 million, reflecting intensified research efforts.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.06%
Tags
-
Rhea-AI Summary

Avidity Biosciences (Nasdaq: RNA) announced the appointment of Jae Kim, M.D., as Chief Medical Officer on July 27, 2020. Dr. Kim will oversee the expansion of Avidity's Antibody Oligonucleotide Conjugates (AOCs™) pipeline, adding his extensive experience in monoclonal antibody and oligonucleotide development. Previously, he held senior roles at Alnylam Pharmaceuticals and MyoKardia, contributing significantly to clinical developments. Avidity aims to leverage AOCs for treating serious diseases, with a focus on muscle-related disorders, through innovative RNA-targeted therapies.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
5.56%
Tags
management
Rhea-AI Summary

Avidity Biosciences, Inc. (Nasdaq: RNA) announced the successful closing of its initial public offering, issuing 16,560,000 shares of common stock at $18.00 per share, garnering approximately $298.1 million in gross proceeds. This amount includes the full exercise of an underwriters' option for an additional 2,160,000 shares. The offering was facilitated by Cowen, SVB Leerink, Credit Suisse, and Wells Fargo Securities. Avidity is developing a new class of therapies called Antibody Oligonucleotide Conjugates, with a focus on treating serious diseases, including myotonic dystrophy type 1.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.68%
Tags

FAQ

What is the current stock price of Avidity Biosciences (RNA)?

The current stock price of Avidity Biosciences (RNA) is $31.64 as of December 23, 2024.

What is the market cap of Avidity Biosciences (RNA)?

The market cap of Avidity Biosciences (RNA) is approximately 3.7B.

What is Avidity Biosciences, Inc.?

Avidity Biosciences, Inc. is a biopharmaceutical company pioneering RNA therapeutics with its proprietary Antibody Oligonucleotide Conjugates (AOCs™) to treat serious genetic diseases.

What are Antibody Oligonucleotide Conjugates (AOCs™)?

AOCs™ combine the specificity of monoclonal antibodies with the precision of oligonucleotide therapies, enabling targeted treatment of diseases previously unreachable with existing RNA therapies.

What is AOC 1001 (Del-desiran)?

AOC 1001 (Del-desiran) is Avidity's lead product candidate for treating Myotonic Dystrophy Type 1 (DM1). It has shown promising results in clinical trials and is entering global Phase 3 HARBOR™ trial.

What are the key clinical programs of Avidity Biosciences?

The key clinical programs include AOC 1001 for DM1, AOC 1044 for Duchenne Muscular Dystrophy (DMD) with exon 44 skipping, and AOC 1020 for Facioscapulohumeral Muscular Dystrophy (FSHD).

What designations has AOC 1044 received?

AOC 1044 has received Rare Pediatric Disease, Orphan Drug, and Fast Track designations from the FDA and EMA for its potential to treat Duchenne Muscular Dystrophy (DMD) with exon 44 skipping.

What is the significance of the MARINA-OLE™ trial?

The MARINA-OLE™ trial demonstrated that AOC 1001 (Del-desiran) can reverse disease progression in Myotonic Dystrophy Type 1 (DM1) patients, showing improvements in key metrics such as video hand opening time (vHOT) and muscle strength.

What other areas is Avidity Biosciences expanding into?

In addition to rare muscle diseases, Avidity Biosciences is expanding its pipeline to include cardiology and immunology programs through internal discovery efforts and key partnerships.

Where is Avidity Biosciences headquartered?

Avidity Biosciences is headquartered in San Diego, CA.

How is Avidity Biosciences funded?

Avidity Biosciences is supported by top-tier investors and partnerships, recently completing an oversubscribed equity raise of $400 million, securing its financial position to fund operations into late 2026.

How can I learn more about Avidity Biosciences?

For more information, visit their official website at www.aviditybiosciences.com.

Avidity Biosciences, Inc.

Nasdaq:RNA

RNA Rankings

RNA Stock Data

3.73B
112.48M
4.83%
106.49%
12.17%
Biotechnology
Pharmaceutical Preparations
Link
United States of America
SAN DIEGO