Avidity Biosciences Announces Expected Record Date for Spin-Off

Core Viewpoint - Avidity Biosciences is set to distribute shares of Atrium Therapeutics to its stockholders as part of a merger with Novartis AG and a spin-off of its early-stage precision cardiology programs [1][2] Company Overview - Avidity Biosciences focuses on RNA therapeutics, specifically Antibody Oligonucleotide Conjugates (AOCs), aiming to improve treatment for diseases previously unreachable with existing RNA therapies [3] - The company has developed a proprietary AOC platform that successfully targets RNA delivery into muscle, with ongoing clinical programs for myotonic dystrophy type 1, Duchenne muscular dystrophy, and facioscapulohumeral muscular dystrophy [3] - Avidity is also advancing two precision cardiology candidates targeting rare genetic cardiomyopathies and expanding its pipeline through partnerships in cardiology and immunology [3] Transaction Details - The record date for the distribution of SpinCo shares is set for February 12, 2026, with stockholders receiving one share of SpinCo for every ten shares of Avidity held [1] - The completion of the merger and spin-off is contingent upon certain closing conditions, including stockholder approval, which may affect the record date [2]