Avidity Biosciences, Inc. - RNA STOCK NEWS

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.

Avidity Biosciences (Nasdaq: RNA) announced positive results for delpacibart zotadirsen (AOC 1044) in the Phase 1/2 EXPLORE44™ trial for Duchenne muscular dystrophy (DMD44). The drug demonstrated:

• Unsurpassed muscle concentrations of PMO at 200 nM after three 5 mg/kg doses
• 37% increase in exon 44 skipping, up to 66% with 5 mg/kg dose
• 25% increase in dystrophin production, restoring up to 54% of normal levels
• Over 80% reduction in creatine kinase levels
• Favorable safety and tolerability profile

These results suggest potential for changing the treatment paradigm for DMD44 patients. The company plans to expedite the regulatory path for delpacibart zotadirsen and advance additional exon-skipping DMD candidates.

Avidity Biosciences (Nasdaq: RNA) has announced inducement grants for its new Chief Legal Officer and Corporate Secretary, John B. Moriarty, Jr. The grants, approved on August 1, 2024, include:

• A non-qualified stock option to purchase 160,000 shares of common stock
• 25,000 restricted stock units (RSUs)

These awards were granted under the company's 2022 Employment Inducement Incentive Award Plan, in compliance with Nasdaq Listing Rule 5635(c)(4). The stock option has an exercise price of $44.57 per share, equal to the closing price of Avidity's stock on August 1, 2024. The stock option will vest over four years, while the RSUs will vest in four equal annual installments, both subject to Mr. Moriarty's continued employment.