#United States #San Diego #RNA Therapeutics #Avidity Biosciences #Antibody Oligonucleotide

Avidity Biosciences Expands Its Reach Through Public Offering

Avidity Biosciences, Inc., a pioneering biopharmaceutical entity focused on innovating what it calls Antibody Oligonucleotide Conjugates (AOCs™), has taken a significant step forward by announcing a sizeable public offering of its common stock. The company, which is publicly traded on Nasdaq under the ticker symbol RNA, has priced this offering at $40.00 per share and aims to sell 15 million shares. This decision is pivotal for Avidity as they are looking to raise gross proceeds of approximately $600 million, a funding boost intended to advance their development programs in RNA therapeutics.

Key Details of the Offering

The public offering's pricing positions Avidity strategically within the financial markets. With all shares to be sold by Avidity, this offering is structured to close on or around September 15, 2025, contingent upon customary closing conditions. To sweeten the deal, the underwriters have been granted a 30-day option to purchase up to an additional 2.25 million shares. Joint bookrunning managers for this offering include Leerink Partners, J.P. Morgan, TD Cowen, Cantor Fitzgerald, and Wells Fargo Securities, who are integral in guiding the transaction.

Utilization of Proceeds

The proceeds from this public offering are earmarked for various strategic initiatives within the company. Avidity has outlined its intentions to use the net proceeds, along with existing cash and marketable securities, to:

• - Advance three late-stage clinical programs
• - Build appropriate commercial inventory in preparation for upcoming launches
• - Expand its commercial infrastructure
• - Progress research and development efforts associated with their innovative AOC platform
• - Address working capital and general corporate purposes

These efforts reflect Avidity's commitment to not only broadening its therapeutic pipeline but also enhancing its operational capabilities.

About Avidity's Innovations

Avidity stands at the forefront of transforming RNA therapeutics through its unique AOC platform. The company is seeking to redefine how RNA therapies target diseases that current treatments can’t address effectively. By integrating the specificity of monoclonal antibodies with the precision of oligonucleotide therapies, Avidity aims to develop treatments for rare muscle diseases such as myotonic dystrophy type 1, Duchenne muscular dystrophy, and facioscapulohumeral muscular dystrophy. In addition to this, they are also exploring new possibilities in cardiology, targeting rare genetic cardiomyopathies. Avidity's ongoing partnership initiatives signal a strategic expansion beyond its existing pipeline, promising a broader reach in therapeutic development.

Conclusion

This public offering marks a crucial turning point for Avidity Biosciences as it seeks to bolster its financial resources to enhance its clinical programs. By focusing on rare diseases that necessitate innovative therapies, Avidity is not only positioning itself to elevate its operational capacity but also to potentially revolutionize treatment methodologies in the biopharmaceutical landscape. Avidity's strategic planning and robust pipeline combined with this significant funding could herald exciting advancements in RNA therapeutics, benefitting patients who currently have limited treatment options.

For further information, investors can refer to the prospectus supplement and accompanying prospectus filed with the SEC either through direct contact with the involved financial institutions or via the SEC's official website.