Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q _____________________________________________________ x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2023 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-39321 _____________________________________________________ Avidity Biosciences, Inc. (Exact name of r ...

PART I – FINANCIAL INFORMATION [Item 1. Condensed Financial Statements (unaudited)](index=4&type=section&id=Item%201.%20Condensed%20Financial%20Statements%20(unaudited)) This section presents Avidity Biosciences, Inc.'s unaudited condensed financial statements for Q1 2023, reporting a net loss of $52.4 million and total assets of $614.0 million [Condensed Balance Sheets](index=4&type=section&id=Condensed%20Balance%20Sheets) As of March 31, 2023, total assets decreased to $614.0 million from $638.8 million, primarily due to reduced cash and cash equivalents, while total liabilities and stockholders' equity also decreased Condensed Balance Sheet Data (in thousands) | | March 31, 2023 | December 31, 2022 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $118,710 | $340,396 | | Marketable securities | $467,590 | $270,331 | | Total current assets | $597,147 | $622,942 | | **Total assets** | **$613,976** | **$638,800** | | **Liabilities and Stockholders' Equity** | | | | Total current liabilities | $48,085 | $51,908 | | **Total liabilities** | **$55,061** | **$60,725** | | **Total stockholders' equity** | **$558,915** | **$578,075** | [Condensed Statements of Operations and Comprehensive Loss](index=5&type=section&id=Condensed%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) For the three months ended March 31, 2023, collaboration revenue increased to $2.2 million, but significantly higher operating expenses, driven by R&D costs, resulted in a net loss of $52.4 million Condensed Statements of Operations (in thousands, except per share data) | | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | | :--- | :--- | :--- | | Collaboration revenue | $2,233 | $1,795 | | Research and development | $47,765 | $27,688 | | General and administrative | $12,064 | $8,567 | | **Total operating expenses** | **$59,829** | **$36,255** | | Loss from operations | ($57,596) | ($34,460) | | **Net loss** | **($52,394)** | **($34,235)** | | Net loss per share, basic and diluted | ($0.74) | ($0.71) | [Condensed Statements of Stockholders' Equity](index=6&type=section&id=Condensed%20Statements%20of%20Stockholders'%20Equity) Total stockholders' equity decreased from $578.1 million at December 31, 2022, to $558.9 million at March 31, 2023, primarily due to the net loss, partially offset by stock issuances and compensation - Key changes in stockholders' equity for the three months ended March 31, 2023 include a **net loss of $52.4 million**, **stock-based compensation of $9.1 million**, and **net proceeds of $22.4 million** from a public offering[17](index=17&type=chunk) [Condensed Statements of Cash Flows](index=7&type=section&id=Condensed%20Statements%20of%20Cash%20Flows) In Q1 2023, net cash used in operating activities increased to $49.0 million, while net cash used in investing activities was $195.7 million, resulting in a net decrease in cash, cash equivalents, and restricted cash of $221.7 million Summary of Cash Flows (in thousands) | | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | | :--- | :--- | :--- | | Net cash used in Operating activities | ($48,967) | ($29,574) | | Net cash used in Investing activities | ($195,680) | ($175,475) | | Net cash provided by Financing activities | $22,961 | $24,113 | | **Net decrease in cash, cash equivalents and restricted cash** | **($221,686)** | **($180,936)** | [Notes to Condensed Financial Statements](index=8&type=section&id=Notes%20to%20Condensed%20Financial%20Statements) This section provides detailed notes on the company's business, liquidity, and accounting policies, confirming **$586.3 million** in cash and marketable securities are sufficient for at least 12 months of operations - The company is a biopharmaceutical firm focused on a new class of RNA therapeutics called **Antibody Oligonucleotide Conjugates (AOCs)**[22](index=22&type=chunk) - As of March 31, 2023, the company had an **accumulated deficit of $410.9 million** and cash, cash equivalents, and marketable securities totaling **$586.3 million**[24](index=24&type=chunk) - Management believes existing cash, cash equivalents, and marketable securities are sufficient to fund operations for at least **12 months** from the filing date[25](index=25&type=chunk) - Revenue of **$2.2 million** was recognized for the three months ended March 31, 2023, from the research collaboration and license agreement with Eli Lilly and Company[45](index=45&type=chunk) - During Q1 2023, the company sold **943,461 shares** of common stock under its 2022 Sales Agreement, receiving **net proceeds of $22.4 million**[54](index=54&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=17&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's financial condition and operational results, emphasizing the advancement of its Antibody Oligonucleotide Conjugates (AOCs) pipeline and its **$586.3 million** liquidity position [Overview](index=17&type=section&id=Overview) This section provides an overview of Avidity's biopharmaceutical focus on Antibody Oligonucleotide Conjugates (AOCs), detailing its three clinical-stage programs and recent trial data, including the partial clinical hold on the MARINA trial - The company's pipeline has **three programs in clinical development**: AOC 1001 (DM1), AOC 1020 (FSHD), and AOC 1044 (DMD)[68](index=68&type=chunk) - In April 2023, top-line data from the MARINA trial of AOC 1001 showed **directional improvement in functional assessments** and a **favorable safety profile**[68](index=68&type=chunk)[76](index=76&type=chunk) - The FDA placed a **partial clinical hold** on new participant enrollment in the MARINA program in September 2022 following a serious adverse event; discussions with the FDA are ongoing[70](index=70&type=chunk)[71](index=71&type=chunk) - The company anticipates sharing data from the MARINA-OLE study in **late 2023**, results from the EXPLORE44 trial in the **second half of 2023**, and a preliminary assessment from the FORTITUDE trial in the **first half of 2024**[72](index=72&type=chunk) [Results of Operations](index=21&type=section&id=Results%20of%20Operations) For Q1 2023, revenue slightly increased to $2.2 million, while R&D expenses rose by $20.1 million to $47.8 million, and G&A expenses increased by $3.5 million to $12.1 million Comparison of Operations (in thousands) | | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | Change | | :--- | :--- | :--- | :--- | | Revenue | $2,233 | $1,795 | $438 | | Research and development expenses | $47,765 | $27,688 | $20,077 | | General and administrative expenses | $12,064 | $8,567 | $3,497 | R&D Expense Breakdown by Program (in thousands) | Program | Q1 2023 | Q1 2022 | Change | | :--- | :--- | :--- | :--- | | AOC 1001 | $6,960 | $4,490 | $2,470 | | AOC 1020 | $7,616 | $2,232 | $5,384 | | AOC 1044 | $2,536 | $2,897 | ($361) | | Other programs | $6,376 | $2,877 | $3,499 | - The increase in R&D expenses was primarily driven by a **$12.6 million increase in external costs** for clinical trials and preclinical studies, and a **$7.4 million increase in internal costs** from higher headcount and lab supplies[94](index=94&type=chunk)[95](index=95&type=chunk) [Liquidity and Capital Resources](index=22&type=section&id=Liquidity%20and%20Capital%20Resources) As of March 31, 2023, the company held **$586.3 million** in cash, cash equivalents, and marketable securities, which management believes is sufficient to fund operations for at least the next 12 months, with future funding expected from equity, debt, or collaborations - As of March 31, 2023, the company had cash, cash equivalents, and marketable securities of **$586.3 million**[104](index=104&type=chunk) - The company believes its existing cash will be sufficient to fund operations for at least **12 months** from the filing date of the Form 10-Q[104](index=104&type=chunk) - Through March 31, 2023, the company has received **net proceeds of $22.4 million** under the 2022 Sales Agreement[101](index=101&type=chunk) - In December 2022, the company completed a public offering raising **net proceeds of $223.8 million**[102](index=102&type=chunk) [Cash Flows](index=24&type=section&id=Cash%20Flows) In Q1 2023, net cash used in operating activities increased to $49.0 million, net cash used in investing activities was $195.7 million, and net cash provided by financing activities was $23.0 million Cash Flow Summary (in thousands) | | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | | :--- | :--- | :--- | | Net cash used in Operating activities | ($48,967) | ($29,574) | | Net cash used in Investing activities | ($195,680) | ($175,475) | | Net cash provided by Financing activities | $22,961 | $24,113 | [Critical Accounting Estimates](index=25&type=section&id=Critical%20Accounting%20Estimates) The company reports no material changes to its critical accounting estimates from those disclosed in its 2022 Annual Report on Form 10-K - As of March 31, 2023, there have been **no material changes** to the company's critical accounting estimates[111](index=111&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=26&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company reports no material changes in its market risk from the information provided in its Annual Report on Form 10-K for the year ended December 31, 2022 - As of March 31, 2023, there have been **no material changes** in the company's market risk[114](index=114&type=chunk) [Item 4. Controls and Procedures](index=26&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were effective as of March 31, 2023, with no material changes to internal control over financial reporting during the quarter - Management concluded that as of March 31, 2023, the company's disclosure controls and procedures were **effective at a reasonable assurance level**[116](index=116&type=chunk) - There were **no changes in internal control over financial reporting** during the quarter ended March 31, 2023, that have materially affected, or are reasonably likely to materially affect, internal controls[117](index=117&type=chunk) PART II – OTHER INFORMATION [Item 1. Legal Proceedings](index=27&type=section&id=Item%201.%20Legal%20Proceedings) The company reports that it is not currently subject to any material legal proceedings - The company is **not currently subject to any material legal proceedings**[120](index=120&type=chunk) [Item 1A. Risk Factors](index=27&type=section&id=Item%201A.%20Risk%20Factors) The company reports no material changes to its risk factors from its 2022 Annual Report on Form 10-K, except for a new risk factor concerning unstable market and economic conditions - A new risk factor has been added regarding **unstable market and economic conditions**, including financial institution liquidity risk, which may adversely affect the business, financial condition, and stock price[122](index=122&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=27&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reports no unregistered sales of equity securities during the period and updates on the use of IPO proceeds, with approximately **$243.8 million** used for general corporate purposes and development programs - There were **no unregistered sales of equity securities** in the period[123](index=123&type=chunk) - As of March 31, 2023, approximately **$243.8 million** of the proceeds from the company's IPO have been used for general corporate purposes and to advance development programs[125](index=125&type=chunk) [Item 3. Defaults Upon Senior Securities](index=28&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) This item is not applicable [Item 4. Mine Safety Disclosures](index=28&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable [Item 5. Other Information](index=28&type=section&id=Item%205.%20Other%20Information) The company reports no other information for this item [Item 6. Exhibits](index=29&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including the Amended and Restated Non-Employee Director Compensation Program and certifications by the CEO and CFO - Exhibits filed include **certifications by the CEO and CFO** under Sarbanes-Oxley Sections 302 and 906, and the Amended and Restated Non-Employee Director Compensation Program[131](index=131&type=chunk)

Nathan living with DMD Josh living with FSHD Kristl, Zen & Loraine living with DM1 Delivering on the RNA Revolution March 2023 We caution the reader that this presentation contains forward-looking statements that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this presentation, including, but not limited to, statements regarding our future results of operations and financial position, business strategy, the anticipated timing, costs, design ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 _________________________ FORM 10-K _________________________ (Mark One) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2022 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM ___________TO___________ Commission file number: 001-39321 _________________________ AVIDITY BI ...

Delivering on the RNA Revolution August 2022 Forward Looking Statements We caution the reader that this presentation contains forward-looking statements that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this presentation, including statements regarding our future results of operations and financial position, business strategy, the anticipated timing, costs, design and conduct of our ongoing and planned preclinical studies and clinical tri ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-39321 Avidity Biosciences, Inc. (Exact name of registrant as specified in its charter) Delaware 46-1336960 (State or other jurisdiction of incorporation or organization) (IRS ...

PART I – FINANCIAL INFORMATION [Condensed Financial Statements (unaudited)](index=3&type=section&id=Item%201.%20Condensed%20Financial%20Statements%20(unaudited)) For Q1 2022, Avidity Biosciences reported decreased collaboration revenue, a widened net loss driven by increased expenses, and maintained a strong liquidity position with $421.1 million in total assets [Condensed Balance Sheets](index=3&type=section&id=Condensed%20Balance%20Sheets) As of March 31, 2022, total assets were $421.1 million, with cash reallocated to marketable securities, while total liabilities remained stable and stockholders' equity slightly decreased Condensed Balance Sheet Data (in thousands) | Account | March 31, 2022 | December 31, 2021 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $139,262 | $320,448 | | Marketable securities | $257,809 | $85,095 | | Total current assets | $404,800 | $411,141 | | **Total assets** | **$421,135** | **$427,580** | | **Liabilities & Equity** | | | | Total current liabilities | $30,920 | $29,658 | | Total liabilities | $45,427 | $46,150 | | Total stockholders' equity | $375,708 | $381,430 | | **Total liabilities and stockholders' equity** | **$421,135** | **$427,580** | [Condensed Statements of Operations and Comprehensive Loss](index=4&type=section&id=Condensed%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) Collaboration revenue decreased to $1.8 million, while operating expenses rose to $36.3 million, leading to a net loss of $34.2 million for the three months ended March 31, 2022 Condensed Statements of Operations (in thousands, except per share data) | Metric | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2021 | | :--- | :--- | :--- | | Collaboration revenue | $1,795 | $2,704 | | Research and development | $27,688 | $20,677 | | General and administrative | $8,567 | $5,884 | | **Total operating expenses** | **$36,255** | **$26,561** | | **Loss from operations** | **($34,460)** | **($23,857)** | | **Net loss** | **($34,235)** | **($23,844)** | | Net loss per share, basic and diluted | ($0.71) | ($0.64) | [Condensed Statements of Stockholders' Equity](index=5&type=section&id=Condensed%20Statements%20of%20Stockholders'%20Equity) Stockholders' equity decreased to $375.7 million due to the net loss, partially offset by proceeds from common stock issuance and stock-based compensation - During Q1 2022, the company issued **1.52 million shares** of common stock in public offerings, generating net proceeds of **$24.1 million**[14](index=14&type=chunk) - The total stockholders' equity decreased by **$5.7 million** during the quarter, from **$381.4 million** to **$375.7 million**[14](index=14&type=chunk) [Condensed Statements of Cash Flows](index=6&type=section&id=Condensed%20Statements%20of%20Cash%20Flows) Net cash used in operating activities increased to $29.6 million, while investing activities used $175.5 million, resulting in a net decrease of $180.9 million in cash for Q1 2022 Summary of Cash Flows (in thousands) | Activity | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2021 | | :--- | :--- | :--- | | Net cash used in operating activities | ($29,574) | ($19,681) | | Net cash used in investing activities | ($175,475) | ($525) | | Net cash provided by financing activities | $24,113 | $17 | | **Net decrease in cash, cash equivalents and restricted cash** | **($180,936)** | **($20,189)** | [Notes to Condensed Financial Statements (unaudited)](index=7&type=section&id=Notes%20to%20Condensed%20Financial%20Statements%20(unaudited)) Notes detail the company's AOC development, liquidity position, collaboration with Eli Lilly, equity financing, and the immaterial impact of COVID-19 - The company is a biopharmaceutical firm developing a new class of RNA therapeutics called Antibody Oligonucleotide Conjugates (AOCs)[19](index=19&type=chunk) - As of March 31, 2022, the company had an accumulated deficit of **$218.8 million** and cash, cash equivalents, and marketable securities of **$397.1 million**[21](index=21&type=chunk) - Management believes existing cash, cash equivalents, and marketable securities are sufficient to fund operations for at least **12 months** from the filing date[22](index=22&type=chunk) - From April 1, 2022, through May 10, 2022, the company sold **482,220 shares** of common stock, receiving net proceeds of **$9.2 million** under its Sales Agreement[83](index=83&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=17&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the AOC platform, clinical pipeline advancement, decreased revenue, increased operating expenses, and confirms sufficient liquidity for at least 12 months - The company's lead product candidate, AOC 1001 for myotonic dystrophy type 1 (DM1), is in a Phase 1/2 MARINA trial. The single-dose cohort is complete, and the multi-dose cohort is enrolling[86](index=86&type=chunk) - The pipeline includes AOC 1044 for Duchenne Muscular Dystrophy (DMD) and AOC 1020 for facioscapulohumeral muscular dystrophy (FSHD), both anticipated to enter the clinic by the end of 2022[87](index=87&type=chunk) - The company believes its existing cash, cash equivalents, and marketable securities of **$397.1 million** as of March 31, 2022, will be sufficient to fund operations for at least **12 months**[91](index=91&type=chunk)[109](index=109&type=chunk) [Results of Operations](index=21&type=section&id=Results%20of%20Operations) Q1 2022 revenue decreased to $1.8 million due to collaboration timing, while R&D and G&A expenses increased due to pipeline advancement and personnel costs Results of Operations Comparison (in thousands) | Item | Q1 2022 | Q1 2021 | Increase (Decrease) | | :--- | :--- | :--- | :--- | | Revenue | $1,795 | $2,704 | ($909) | | Research and development expenses | $27,688 | $20,677 | $7,011 | | General and administrative expenses | $8,567 | $5,884 | $2,683 | - The decrease in revenue was primarily due to the timing of reimbursable collaboration-related research and development expenses under the Lilly Agreement[104](index=104&type=chunk) - The increase in R&D expenses was driven by the advancement of AOC 1001, AOC 1044, and AOC 1020, and the expansion of research capabilities[105](index=105&type=chunk) [Liquidity and Capital Resources](index=21&type=section&id=Liquidity%20and%20Capital%20Resources) As of March 31, 2022, the company held $397.1 million in cash and securities, primarily from IPOs and a Sales Agreement, which management deems sufficient for at least 12 months of operations - Through March 31, 2022, the company has sold **2,300,490 shares** under its Sales Agreement, receiving net proceeds of **$43.7 million**[108](index=108&type=chunk)[89](index=89&type=chunk) - Subsequent to the quarter end, from April 1 to May 10, 2022, an additional **$9.2 million** in net proceeds was raised from selling **482,220 shares** under the Sales Agreement[108](index=108&type=chunk) Cash Flow Summary (in thousands) | Activity | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2021 | | :--- | :--- | :--- | | Net cash used in Operating activities | $(29,574) | $(19,681) | | Net cash used in Investing activities | $(175,475) | $(525) | | Net cash provided by Financing activities | $24,113 | $17 | [Quantitative and Qualitative Disclosures About Market Risk](index=24&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company states that as of March 31, 2022, there have been no material changes in its market risk from the disclosures provided in its Annual Report on Form 10-K for the year ended December 31, 2021 - There have been no material changes in the company's market risk since its 2021 year-end report[118](index=118&type=chunk) [Controls and Procedures](index=24&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls were effective as of March 31, 2022, following the implementation of a new ERP system in January 2022 that modified internal controls - The principal executive officer and principal financial officer concluded that as of March 31, 2022, the company's disclosure controls and procedures were effective at the reasonable assurance level[120](index=120&type=chunk) - In January 2022, the company completed the implementation of a new ERP system, modifying certain internal control processes and procedures[121](index=121&type=chunk) PART II – OTHER INFORMATION [Legal Proceedings](index=25&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently subject to any material legal proceedings, though it may face ordinary course claims - The company is not currently subject to any material legal proceedings[124](index=124&type=chunk) [Risk Factors](index=25&type=page&id=Item%201A.%20Risk%20Factors) There have been no material changes to the risk factors previously disclosed in the company's Annual Report on Form 10-K for the year ended December 31, 2021 - There have been no material changes to the risk factors set forth in the company's annual report on Form 10-K for the year ended December 31, 2021[125](index=125&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=25&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reports no unregistered equity sales and has used $77.9 million of its $298.1 million June 2020 IPO proceeds for general corporate and development purposes - The company's IPO in June 2020 generated gross proceeds of **$298.1 million**[127](index=127&type=chunk) - As of March 31, 2022, approximately **$77.9 million** of the IPO proceeds have been used for general corporate purposes and advancing development programs[128](index=128&type=chunk) [Defaults Upon Senior Securities](index=25&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) Not applicable - Not applicable[130](index=130&type=chunk) [Mine Safety Disclosures](index=25&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) Not applicable - Not applicable[131](index=131&type=chunk) [Other Information](index=25&type=section&id=Item%205.%20Other%20Information) None - None[132](index=132&type=chunk) [Exhibits](index=26&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including the Amended and Restated Certificate of Incorporation and Bylaws, an employment letter agreement, and various certifications required by the Sarbanes-Oxley Act

Delivering on the RNA Revolution March 2022 Forward Looking Statements We caution the reader that this presentation contains forward-looking statements that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this presentation, including statements regarding our future results of operations and financial position, business strategy, the anticipated timing, costs, design and conduct of our ongoing and planned preclinical studies and planned clini ...

Delivering on the RNA Revolution March 2022 Forward Looking Statements We caution the reader that this presentation contains forward-looking statements that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this presentation, including statements regarding our future results of operations and financial position, business strategy, the anticipated timing, costs, design and conduct of our ongoing and planned preclinical studies and planned clini ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission file number: 001-39321 AVIDITY BIOSCIENCES, INC. (Exact name of registrant as specified in its charter) Delaware 46-1336960 (State or Other Jurisdictio ...