Avidity Biosciences (RNA) Soars to All-Time High on Looming $12-Billion Merger with Novartis

Group 1 - Avidity Biosciences, Inc. (NASDAQ:RNA) is set to merge with Novartis in a transaction valued at $12 billion, leading to a significant increase in its stock price [1][2] - The merger agreement stipulates that Novartis will acquire Avidity at a price of $72 per share, aimed at enhancing Novartis' neuroscience portfolio [2] - Avidity will transfer its early-stage precision cardiology programs and certain assets to a subsidiary named SpinCo prior to the merger's closing [3] Group 2 - Shareholders of Avidity will receive one share of SpinCo for every 10 shares of RNA they own, or cash if Avidity opts to sell SpinCo [4] - The merger is expected to be finalized in the first half of 2026, with both companies continuing to operate independently until then [4] - Avidity's stock reached an all-time high of $70.38 during intra-day trading, closing up 42.42% at $70 [1]