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Avidity Biosciences Unveils Inducement Stock Options for New Employees

In a significant move to bolster its workforce, Avidity Biosciences, a pioneering biopharmaceutical company based in San Diego, recently announced the issuance of non-qualified stock options and restricted stock units (RSUs) to its new hires. This initiative, detailed under Nasdaq Listing Rule 5635(c)(4), is aimed at encouraging talented professionals to join the company as it continues to innovate in the field of RNA therapeutics.

Stock Option Details

On March 20, 2025, the Human Capital Management Committee of Avidity's Board of Directors granted a total of 101,200 stock options and 50,900 RSUs to 16 new non-executive employees. This strategic decision was made to attract and retain skilled individuals who were not previously associated with Avidity or had a bona fide period of non-employment.

The stock options carry an exercise price of $30.83 per share, reflecting the company’s closing share price on the day the options were granted. The vesting structure will allow 25% of the stock options to vest on the anniversary of the vesting date, with the remaining shares vesting in equal monthly installments over the following three years. Similarly, the RSUs are set to vest in equal portions over four years, contingent upon each employee's continued employment with the company.

Avidity’s Mission and Innovative Focus

Avidity Biosciences stands at the forefront of RNA therapeutics, specifically focusing on a new class known as Antibody Oligonucleotide Conjugates (AOCs™). These innovative compounds aim to combine the efficacy of monoclonal antibodies with the precision of oligonucleotide therapies, targeting diseases previously deemed untreatable by existing RNA technologies. The company’s impressive clinical development pipeline includes groundbreaking programs addressing rare neuromuscular diseases like myotonic dystrophy type 1, Duchenne muscular dystrophy, and facioscapulohumeral muscular dystrophy.

Furthermore, Avidity is advancing two candidates in precision cardiology designed to tackle rare genetic cardiomyopathies, showcasing its commitment to expanding the potential of AOCs across various therapeutic areas, including cardiology and immunology.

The 2022 Inducement Plan

This recent equity distribution is part of Avidity’s 2022 Employment Inducement Incentive Award Plan, specifically developed for new employees. The plan allows for the granting of equity awards that are crucial for enticing new talent in alignment with Nasdaq's regulations. Through this plan, Avidity strengthens its workforce while aligning employee interests with the long-term success of the company.

Conclusion

Avidity Biosciences continues to innovate and expand its reach in the biopharmaceutical industry, not only through its advanced therapeutic candidates but also by fostering a robust workplace culture that attracts talented individuals. With the issuance of stock options and awards to new hires, Avidity reaffirms its commitment to driving innovation in RNA therapeutics while enhancing its capabilities to tackle previously unaddressed medical challenges.

For further information about Avidity's AOC platform and expanding clinical pipeline, visit Avidity's official website or follow them on their social media channels.