RNA Avidity Biosciences Inc.

24
-1.41  -6%
Previous Close 25.41
Open 25.62
52 Week Low 21.7
52 Week High 37.46
Market Cap $900,639,144
Shares 37,526,631
Float 32,445,460
Enterprise Value $645,746,862
Volume 618,934
Av. Daily Volume 292,036
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Latest News

  1. LA JOLLA, Calif., Feb. 17, 2021 /PRNewswire/ -- Avidity Biosciences, Inc. (NASDAQ:RNA), a biopharmaceutical company pioneering a new class of oligonucleotide-based therapies called Antibody Oligonucleotide Conjugates (AOCs), today announced that Sarah Boyce, President and Chief Executive Officer, and Art Levin, Ph.D., Chief Scientific Officer, will participate in a fireside chat at the 10th Annual SVB Leerink Global Healthcare Conference on Wednesday, February 24th, 2021 at 2:00pm PST. The conference is being held in a virtual format.

    A live webcast of the virtual fireside chat will be available on the Company's website at www.aviditybiosciences.com in the Investors section. A replay of the fireside chat will be archived on the site for 90 days.

    About Avidity Biosciences

    Avidity Biosciences, Inc. is pioneering a new class of oligonucleotide-based therapies called AOCs designed to overcome the current limitations of oligonucleotide therapies in order to treat a wide range of serious diseases. Avidity utilizes its proprietary AOC platform to design, engineer and develop therapeutics that combine the tissue selectivity of monoclonal antibodies and the precision of oligonucleotide therapies in order to access previously undruggable tissue and cell types and more effectively target underlying genetic drivers of diseases. Avidity's lead

    product candidate, AOC 1001, is designed to treat myotonic dystrophy type 1, and its four other muscle programs are focused on the treatment of facioscapulohumeral muscular dystrophy, Duchenne muscular dystrophy, muscle atrophy and Pompe disease. In addition to its muscle franchise, Avidity has research efforts focused on immune and other cell types.

    Avidity is headquartered in La Jolla, CA. For more information about our science, pipeline and people, please visit www.aviditybiosciences.com and engage with us on LinkedIn.

    Contacts:

    Company:

    Mike MacLean

    (858) 401-7900

              

    Media and Investors:

    Cherise Adkins

    Spectrum Science

    (202) 587-2507

    Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/avidity-biosciences-to-present-at-the-10th-annual-svb-leerink-global-healthcare-conference-301229158.html

    SOURCE Avidity Biosciences, Inc.

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  2. LA JOLLA, Calif., Jan. 21, 2021 /PRNewswire/ -- Avidity Biosciences, Inc. (NASDAQ:RNA), a biopharmaceutical company pioneering a new class of oligonucleotide-based therapies called Antibody Oligonucleotide Conjugates (AOCs™), today announced the appointment of W. Michael Flanagan, Ph.D. as Chief Technical Officer. Dr. Flanagan will lead the early development strategy of Avidity's AOC programs as they advance to the clinic.

    "Mike's deep understanding and execution of global drug development strategies for both RNA therapeutics and monoclonal antibodies will be invaluable as we transition to a clinical-stage company. Further, Mike will partner with our Chief Scientific Officer, Art Levin, to deepen the pipeline and broaden the AOC platform," said Sarah Boyce, President and Chief Executive Officer. "We are eager to leverage Mike's extensive research and development expertise and I am pleased to welcome him to our leadership team."

    Dr. Flanagan has extensive experience developing multiple therapeutic modalities, including RNA therapeutics, antibody drug conjugates, and bispecific antibodies. Prior to joining Avidity, Dr. Flanagan served as Senior Director and Project Team Leader, Oncology and Immunology for Genentech, Inc., where he advanced programs through late-stage research to end of Phase 2 development. Prior to Genentech, he served in roles of increasing responsibility in the biology groups at Sunesis Pharmaceuticals, Inc., Gilead Sciences, Inc., and Merck & Co., Inc. where he was Senior Director of RNA Sciences. Dr. Flanagan received a B.S. in Genetics from the University of California at Davis, a Ph.D. in Biological Sciences from the University of California at Irvine and was an American Cancer Society postdoctoral fellow at the Howard Hughes Medical Institute, Stanford University. 

    "Avidity is an amazing company and I'm thrilled to join such an outstanding team. Avidity's AOC technology is a transformative innovation in the field of RNA therapeutics, an area of particular focus for me over my career," said Dr. Flanagan. "This is a great opportunity to help Avidity pioneer the next major class of RNA targeted therapies toward the clinic and to patients."

    About Avidity Biosciences

    Avidity Biosciences, Inc. is driven to change lives with a new class of therapies called Antibody Oligonucleotide Conjugates (AOCs) that are designed to overcome current limitations of oligonucleotide therapies in order to treat a wide range of serious diseases. Avidity's proprietary AOC platform combines the tissue selectivity of monoclonal antibodies and the precision of oligonucleotide therapies to access previously undruggable tissue and cell types and more effectively target underlying genetic drivers of diseases. Avidity's lead product candidate, AOC 1001, is designed to treat myotonic dystrophy type 1, and its other muscle programs are focused on the treatment of Duchenne muscular dystrophy, facioscapulohumeral muscular dystrophy, Pompe disease and muscle atrophy. In addition to its muscle franchise, Avidity has research efforts focused on immune, cardiac and other cell types.  

    Avidity is headquartered in La Jolla, CA. For more information about Avidity's science, pipeline and people, please visit www.aviditybiosciences.com and engage with Avidity on LinkedIn

    Forward-Looking Statements

    Avidity cautions readers that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. These statements are based on our current beliefs and expectations. Such forward-looking statements include, but are not limited to, statements regarding: the advancement of AOCs into clinical development; broadening the AOC platform; and the potential of AOCs to have a transformative impact on patients with a wide range of serious diseases. The inclusion of forward-looking statements should not be regarded as a representation by Avidity that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in our business, including, without limitation: we are early in our development efforts and all of our development programs are in the preclinical or discovery stage; our approach to the discovery and development of product candidates based on our AOC platform is unproven, and we do not know whether we will be able to develop any products of commercial value; potential delays in the commencement, enrollment and completion of clinical trials;  disruption to our operations from the COVID-19 pandemic; the success of our preclinical studies and clinical trials for our product candidates; the results of preclinical studies and early clinical trials are not necessarily predictive of future results; our dependence on third parties in connection with preclinical testing and product manufacturing; unexpected adverse side effects or inadequate efficacy of our product candidates that may limit their development, regulatory approval and/or commercialization, or may result in recalls or product liability claims; regulatory developments in the United States and foreign countries, including acceptance of INDs and similar foreign regulatory filings and our proposed design of future clinical trials; risks related to integration of new management personnel; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC). Avidity cautions readers not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

    Contacts:

    Investors:

    Mike MacLean

    (858) 401-7900

              

    Media: 

    Cherise Adkins

    Spectrum Science

    (202) 587-2507

    Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/avidity-biosciences-appoints-w-michael-flanagan-phd-as-chief-technical-officer-301212093.html

    SOURCE Avidity Biosciences, Inc.

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  3. LA JOLLA, Calif., Jan. 11, 2021 /PRNewswire/ -- Avidity Biosciences, Inc. (NASDAQ:RNA), a biopharmaceutical company pioneering a new class of oligonucleotide-based therapies called Antibody Oligonucleotide Conjugates (AOCs), today announced the appointment of experienced health policy strategist, Tamar Thompson and recognized healthcare investment partner, Jean Kim, to its Board of Directors, who are replacing Todd Brady and Michael Martin.  Avidity also announced that Troy Wilson has transitioned from Executive Chairman to Chairman. 

    "We are excited to welcome Tamar and Jean as independent members of the Board as they bring a diverse set of skills and expertise that will become increasingly important as our AOCs advance in our pipeline," said Sarah Boyce, President and Chief Executive Officer. "Tamar is an outstanding health policy leader with a proven track record in Washington of optimizing market access for multiple novel therapies. In addition, Jean's experience and leadership in healthcare investing will strengthen our Board as we continue to build a leading RNA biotechnology company with a patient-first culture.  On behalf of the Board, I want to thank Todd and Michael for their many contributions to Avidity.  As early investors, Todd and Michael played important roles in supporting the initial development of our technology."

    Tamar Thompson is a distinguished health policy strategist, government affairs leader and market access executive with a diverse background across multiple healthcare sectors and therapeutic categories including rare disease, immunology, oncology and cardiovascular disease. She has more than twenty years of leadership experience in health care, including a focus on developing strategic and tactical recommendations to ensure optimal reimbursement and market access for rare disease products. Ms. Thompson currently serves as the Vice President, US Government Affairs and Policy for Alexion Pharmaceuticals, Inc. and as the Chair of the Board of Alexion's Charitable Foundation. Prior to joining Alexion, Ms. Thompson served as head, federal executive branch strategy and state government affairs for Bristol-Myers Squibb Company.  She also served as a strategic policy advisor and consultant for premiere Washington, DC based firms, including ADVI, Kimbell and Associates and Avalere Health. Ms. Thompson holds an M.S. in Health Sciences with a concentration in Public Health from Trident University in Cypress California.

    "I am very pleased to become a director of Avidity at this important phase in the company's maturation," said Ms. Thompson. "Avidity's innovative science and pipeline of AOCs may have a transformational impact on patients with a wide range of serious diseases. I look forward to leveraging my experience in rare disease and working with the Board and management team to contribute to Avidity's success in the future."

    Jean Kim is a recognized healthcare investment partner with more than twenty years of biotechnology experience and leadership on Wall Street. Ms. Kim served as a Partner at Deerfield Management Company LP from August 2006 to July 2020 where she provided extensive research and analysis on individual companies operating in the healthcare industry, with a particular focus on rare and orphan diseases. In addition, Ms. Kim incubated and founded a new gene therapy portfolio company at Deerfield Management with a novel incubator company structure focused on rare orphan monogenic diseases. Prior to joining Deerfield, she was a healthcare investment professional for six years with Merrill Lynch Ventures and a Financial Analyst in Merrill Lynch's investment banking department. Ms. Kim received her Bachelor of Arts in English Literature and a Bachelor of Science in Biology from Stanford University. She also holds an MBA from Harvard Business School and a Master of Science degree from the Massachusetts Institute of Technology through the Biomedical Enterprise Program and was a Fulbright Scholar. Ms. Kim serves on the Board of Directors of Amplo Biotechnology, a gene therapy company. 

    "I look forward to working with the Board as we continue to focus on serving patients with devastating and rare diseases, as well as advancing our promising AOCs into clinical development," said Ms. Kim. "Avidity has a clear strategy to deliver long-term growth, and the Board and I are fully committed to positioning the Company as a leading RNA biotechnology company."

    About Avidity Biosciences

    Avidity Biosciences, Inc. is driven to change lives with a new class of therapies called Antibody Oligonucleotide Conjugates (AOCs) that are designed to overcome current limitations of oligonucleotide therapies in order to treat a wide range of serious diseases. Avidity's proprietary AOC platform combines the tissue selectivity of monoclonal antibodies and the precision of oligonucleotide therapies to access previously undruggable tissue and cell types and more effectively target underlying genetic drivers of diseases. Avidity's lead product candidate, AOC 1001, is designed to treat myotonic dystrophy type 1, and its other muscle programs are focused on the treatment of Duchenne muscular dystrophy, facioscapulohumeral muscular dystrophy, Pompe disease and muscle atrophy. In addition to its muscle franchise, Avidity has research efforts focused on immune, cardiac and other cell types.  

    Avidity is headquartered in La Jolla, CA. For more information about Avidity's science, pipeline and people, please visit www.aviditybiosciences.com and engage with Avidity on LinkedIn

    Forward-Looking Statements

    Avidity cautions readers that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. These statements are based on our current beliefs and expectations. Such forward-looking statements include, but are not limited to, statements regarding: the advancement of AOCs into clinical development; the potential of AOCs to have a transformative impact on patients with a wide range of serious diseases; and Avidity's strategy to deliver long-term growth. The inclusion of forward-looking statements should not be regarded as a representation by Avidity that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in our business, including, without limitation: we are early in our development efforts and all of our development programs are in the preclinical or discovery stage; our approach to the discovery and development of product candidates based on our AOC platform is unproven, and we do not know whether we will be able to develop any products of commercial value; potential delays in the commencement, enrollment and completion of clinical trials;  disruption to our operations from the COVID-19 pandemic; the success of our preclinical studies and clinical trials for our product candidates; the results of preclinical studies and early clinical trials are not necessarily predictive of future results; our dependence on third parties in connection with preclinical testing and product manufacturing; unexpected adverse side effects or inadequate efficacy of our product candidates that may limit their development, regulatory approval and/or commercialization, or may result in recalls or product liability claims; regulatory developments in the United States and foreign countries, including acceptance of INDs and similar foreign regulatory filings and our proposed design of future clinical trials; risks related to integration of new management personnel; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC). Avidity cautions readers not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

    Contacts:

    Company:

    Mike MacLean

    (858) 401-7900

              

    Media and Investors:

    Amy Conrad

    Juniper Point

    (858) 366-3243

     

    Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/avidity-biosciences-announces-changes-to-its-board-of-directors-301204837.html

    SOURCE Avidity Biosciences, Inc.

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  4. LA JOLLA, Calif., Jan. 8, 2021 /PRNewswire/ -- Avidity Biosciences, Inc. (NASDAQ:RNA), a biopharmaceutical company pioneering a new class of oligonucleotide-based therapies called Antibody Oligonucleotide Conjugates (AOCs™), today announced pipeline updates for 2021 and a research collaboration with MyoKardia, Inc., a wholly-owned subsidiary of Bristol Myers Squibb. 

    "In 2021, we enter an important new phase for Avidity as AOC 1001 is expected to enter Phase 1/2 studies for the treatment of adults with myotonic dystrophy type 1, a rare, progressive muscle disease with no approved therapy," said Sarah Boyce, President and Chief Executive Officer. "This milestone is the culmination of years of engineering and research laying the groundwork for the progress of our muscle franchise and future expansion of our AOC platform."

    2021 Pipeline Updates

    • In 2H 2021, Avidity plans to initiate a Phase 1/2 clinical study of AOC 1001 in adults with myotonic dystrophy type 1 (DM1).
    • AOC FSHD is a therapeutic program in development for the treatment of facioscapulohumeral muscular dystrophy (FSHD).  In 2021, Avidity plans to advance the program into IND-enabling studies.  In 2022, Avidity plans to submit a regulatory filing to support a clinical trial.
    • AOC DMD is a therapeutic program in development for the treatment of Duchenne muscular dystrophy (DMD).  Avidity has expanded its efforts for this indication and is now advancing three programs for DMD which target different mutations that are amenable to skipping, including Exon 44, Exon 51 and Exon 45.  Avidity's lead AOC in development for DMD targets Exon 44. In 2022, Avidity plans to submit a regulatory filing to support a clinical trial.
    • AOC Muscle Atrophy is a therapeutic program in development for the treatment of muscle atrophy (MA).  During 2021, Avidity researchers will evaluate AOCs in multiple disease models of MA to identify an optimal development path. 

    Research Collaboration with MyoKardia, a Wholly-Owned Subsidiary of Bristol Myers Squibb

    • Avidity has entered into a research collaboration with MyoKardia, a wholly-owned subsidiary of Bristol Myers Squibb, to demonstrate the potential utility of AOCs in cardiac tissue by leveraging MyoKardia's genetic cardiomyopathy platform including, among other aspects, its novel target discovery engine and proprietary cardiac disease models.   

    "We are excited to partner with MyoKardia, the pioneers in precision medicine approaches to treating cardiomyopathies and other heart diseases," said Joseph Baroldi, Chief Operating Officer. "This research collaboration with MyoKardia furthers Avidity's strategic approach to broadening the use of our AOC platform beyond skeletal muscle. Looking ahead, our business development efforts will continue to focus on collaborating with high-quality partners to accelerate and expand the utility of our AOCs."

    About Avidity Biosciences

    Avidity Biosciences, Inc. is driven to change lives with a new class of therapies called Antibody Oligonucleotide Conjugates (AOCs) that are designed to overcome current limitations of oligonucleotide therapies in order to treat a wide range of serious diseases. Avidity's proprietary AOC platform combines the tissue selectivity of monoclonal antibodies and the precision of oligonucleotide therapies to access previously undruggable tissue and cell types and more effectively target underlying genetic drivers of diseases. Avidity's lead product candidate, AOC 1001, is designed to treat myotonic dystrophy type 1, and its other muscle programs are focused on the treatment of Duchenne muscular dystrophy, facioscapulohumeral muscular dystrophy, Pompe disease and muscle atrophy. In addition to its muscle franchise, Avidity has research efforts focused on immune, cardiac and other cell types.   

    Avidity is headquartered in La Jolla, CA. For more information about Avidity's science, pipeline and people, please visit www.aviditybiosciences.com and engage with Avidity on LinkedIn

    Forward-Looking Statements

    Avidity cautions readers that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. These statements are based on our current beliefs and expectations. Such forward-looking statements include, but are not limited to, statements regarding: the potential to develop a meaningful pipeline of novel AOC therapeutics; the initiation of a Phase 1/2 clinical trial of AOC 1001 in patients with DM1 and the timing thereof; Avidity's plans to advance the AOC FSHD program into IND-enabling studies and submit a regulatory filing to support a clinical trial and the expected timing thereof; the advancement of three programs for DMD and potential development for AOC MA; the potential to identify new targets beyond the muscle that can be targeted with Avidity's AOC approach, including cardiac tissue under the MyoKardia collaboration; the future expansion of Avidity's AOC platform; and the broad potential of AOCs to treat serious diseases. The inclusion of forward-looking statements should not be regarded as a representation by Avidity that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in our business, including, without limitation: we are early in our development efforts and all of our development programs are in the preclinical or discovery stage; our approach to the discovery and development of product candidates based on our AOC platform is unproven, and we do not know whether we will be able to develop any products of commercial value; potential delays in the commencement, enrollment and completion of clinical trials;  disruption to our operations from the COVID-19 pandemic; the success of our preclinical studies and clinical trials for our product candidates; the results of preclinical studies and early clinical trials are not necessarily predictive of future results; we may not be able to show utility of our AOCs in cardiac or other tissue and we may not realize any benefits from the MyoKardia collaboration;  our dependence on third parties in connection with preclinical testing and product manufacturing; unexpected adverse side effects or inadequate efficacy of our product candidates that may limit their development, regulatory approval and/or commercialization, or may result in recalls or product liability claims; regulatory developments in the United States and foreign countries, including acceptance of INDs and similar foreign regulatory filings and our proposed design of future clinical trials; risks related to integration of new management personnel; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC). Avidity cautions readers not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

    Contacts:

    Company:

    Mike MacLean

    (858) 401-7900

              

    Media and Investors:

    Amy Conrad

    Juniper Point

    (858) 366-3243

    Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/avidity-biosciences-announces-2021-pipeline-updates-and-research-collaboration-with-myokardia-301203170.html

    SOURCE Avidity Biosciences, Inc.

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  5. LA JOLLA, Calif., Dec. 22, 2020 /PRNewswire/ -- Avidity Biosciences, Inc. (NASDAQ:RNA), a biopharmaceutical company pioneering a new class of oligonucleotide-based therapies called Antibody Oligonucleotide Conjugates (AOCs), today announced that Sarah Boyce, President and Chief Executive Officer, is scheduled to present at the 39th Annual J.P. Morgan Healthcare Conference on Thursday, January 14th, 2021 at 12:40pm PST. The conference is being held in a virtual format.

    A live webcast of the presentation will be available on the Company's website at www.aviditybiosciences.com in the Investor Resources section. A replay of the presentation will be archived on the Company's website for 30 days.

    About Avidity Biosciences

    Avidity Biosciences, Inc. is pioneering a new class of oligonucleotide-based therapies called AOCs designed to overcome the current limitations of oligonucleotide therapies in order to treat a wide range of serious diseases. Avidity utilizes its proprietary AOC platform to design, engineer and develop therapeutics that combine the tissue selectivity of monoclonal antibodies and the precision of oligonucleotide therapies in order to access previously undruggable tissue and cell types and more effectively target underlying genetic drivers of diseases. Avidity's lead product candidate, AOC 1001, is designed to treat myotonic dystrophy type 1, and its four other muscle programs are focused on the treatment of muscle atrophy, Duchenne muscular dystrophy, facioscapulohumeral muscular dystrophy and Pompe disease. In addition to its muscle franchise, Avidity has research efforts focused on immune and other cell types.

    Avidity is headquartered in La Jolla, CA. For more information about our science, pipeline and people, please visit www.aviditybiosciences.com and engage with us on LinkedIn.

    Contacts:

    Company:

    Mike MacLean

    (858) 401-7900

              

    Media and Investors:

    Amy Conrad

    Juniper Point

    (858) 366-3243

     

    Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/avidity-biosciences-to-present-at-the-39th-annual-jp-morgan-healthcare-conference-301196348.html

    SOURCE Avidity Biosciences, Inc.

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