Avidity Biosciences, Inc. - RNA STOCK NEWS

Avidity Biosciences, Inc. (Nasdaq: RNA), a biopharmaceutical company developing Antibody Oligonucleotide Conjugates (AOCs™), has granted equity awards to 21 new non-executive employees under its 2022 Employment Inducement Incentive Award Plan. The awards, approved on September 20, 2024, include:

• 212,000 non-qualified stock options with an exercise price of $44.48 per share
• 106,000 restricted stock units (RSUs)

These grants, made in accordance with Nasdaq Listing Rule 5635(c)(4), serve as employment inducements. The stock options will vest over four years, with 25% vesting after one year and the remainder monthly over 36 months. RSUs will vest in four equal annual installments. All awards are subject to continued employment and the terms of the 2022 Inducement Plan and respective agreements.

Avidity Biosciences (Nasdaq: RNA) is participating in National Muscular Dystrophy Awareness Month this September, supporting various initiatives and events. The company has reported groundbreaking data across three rare neuromuscular disease clinical programs: del-desiran™ for myotonic dystrophy type 1 (DM1), del-brax™ for facioscapulohumeral muscular dystrophy (FSHD), and del-zota™ for Duchenne muscular dystrophy amenable to exon 44 skipping (DMD44).

Avidity has initiated the global Phase 3 HARBOR™ study for DM1 and is advancing additional candidates from their DMD franchise. The company is engaging with patient communities and advocacy groups through various events, including the MDF Gala, World Duchenne Awareness Day, International Myotonic Dystrophy Awareness Day, Global Genes Week in RARE, and the FSHD Society Walk & Roll to Cure FSHD.

Avidity Biosciences (Nasdaq: RNA), a biopharmaceutical company developing Antibody Oligonucleotide Conjugates (AOCs™), has announced its participation in two upcoming investor conferences. The company will present at the Wells Fargo 2024 Healthcare Conference on September 4 at 5:00 a.m. PT / 8:00 a.m. ET and the Cantor Global Healthcare Conference on September 17 at 6:45 a.m. PT / 9:45 a.m. ET.

Investors and interested parties can access live webcasts and archived replays of both events through the 'Events and Presentations' page in the 'Investors' section of Avidity's website. This participation in major healthcare conferences demonstrates Avidity's commitment to engaging with investors and showcasing its progress in developing innovative RNA therapeutics.

Avidity Biosciences (Nasdaq: RNA) has granted stock options and restricted stock units (RSUs) to seven new non-executive employees as part of its 2022 Employment Inducement Incentive Award Plan. The awards, approved on August 20, 2024, include:

- 52,100 shares of common stock options with an exercise price of $44.87 per share
- 26,050 RSUs

The stock options will vest over four years, with 25% vesting after one year and the remainder in 36 monthly installments. RSUs will vest in four equal annual installments. These grants are designed to attract new talent to Avidity, a company developing Antibody Oligonucleotide Conjugates (AOCs™) as a new class of RNA therapeutics.

Avidity Biosciences (Nasdaq: RNA) has successfully closed its upsized public offering of common stock, raising approximately $345.1 million in gross proceeds. The offering included 8,418,000 shares sold at $41.00 per share, with underwriters fully exercising their option to purchase additional shares. The company plans to use the net proceeds to fund its clinical programs, advance research and development of its AOC platform, and for working capital and general corporate purposes. The offering was managed by several prominent investment banks, including Leerink Partners, TD Cowen, Cantor, Barclays, and Wells Fargo Securities as joint bookrunning managers.

Avidity Biosciences (Nasdaq: RNA) has announced the pricing of its upsized public offering of 7,320,000 shares of common stock at $41.00 per share. The company expects to raise approximately $300.1 million in gross proceeds. The offering is set to close around August 16, 2024, with underwriters having a 30-day option to purchase up to an additional 1,098,000 shares. Avidity plans to use the net proceeds to fund its clinical programs, advance research and development of its AOC platform, and for working capital and general corporate purposes. The offering is being managed by several prominent investment banks, including Leerink Partners, TD Cowen, Cantor, Barclays, and Wells Fargo Securities.

Contineum Therapeutics (Nasdaq: CTNM) reported Q2 2024 financial results and recent business highlights. Key points include:

- Strong cash position of $219 million at Q2 end
- Appointed Troy Ignelzi and Sarah Boyce to Board of Directors
- Strengthened management team with John Healy and Kristina Haeckl
- Enrollment on track for PIPE-307 Phase 2 VISTA trial in RRMS
- Published preclinical and clinical results on PIPE-307 and PIPE-791
- Completed IPO with net proceeds of $107.9 million

Financial results:
- R&D expenses: $7.9 million (Q2 2024) vs $9.5 million (Q2 2023)
- G&A expenses: $3.0 million (Q2 2024) vs $1.6 million (Q2 2023)

Avidity Biosciences (Nasdaq: RNA), a biopharmaceutical company developing Antibody Oligonucleotide Conjugates (AOCs™), has announced plans for a $250 million public offering of common stock. The company also intends to grant underwriters a 30-day option to purchase up to an additional $37.5 million of shares. Leerink Partners and TD Cowen are acting as joint bookrunning managers for the offering.

Avidity plans to use the net proceeds to fund clinical programs, advance AOC platform research and development, and for working capital and general corporate purposes. The offering is subject to market conditions, and there is no assurance regarding its completion or terms.

Avidity Biosciences (Nasdaq: RNA) reported positive Q2 2024 results and significant progress in its clinical trials. Key highlights include:

1. Positive del-zota data showing a 25% increase in dystrophin production for DMD44 patients.

2. Initiation of the global Phase 3 HARBOR™ trial for del-desiran in DM1 patients.

3. Breakthrough Therapy designation for del-desiran from the FDA.

4. Positive del-brax data with >50% reduction in DUX4 regulated genes for FSHD patients.

5. Plans to accelerate registrational cohorts for del-brax.

6. Announcement of lead precision cardiology program target planned for Q4 2024.

7. Strong financial position with $1.3 billion cash on hand.

Financials: Q2 2024 collaboration revenue was $2.0 million, R&D expenses increased to $63.9 million, and G&A expenses rose to $20.7 million.