Avidity Biosciences, Inc. Announces Proposed Public Offering of Common Stock

Core Viewpoint - Avidity Biosciences, Inc. plans to offer $300 million of its common stock in an underwritten public offering, with an additional option for underwriters to purchase up to $45 million more [1][2]. Group 1: Offering Details - The public offering is subject to market conditions and other factors, and all shares will be sold by Avidity [1]. - The offering is being conducted under a shelf registration statement that is effective with the SEC [3]. Group 2: Use of Proceeds - The net proceeds from the offering will be used to fund clinical program development, advance research and development of the AOC platform, and for working capital and general corporate purposes [2]. Group 3: Company Overview - Avidity Biosciences focuses on RNA therapeutics, specifically Antibody Oligonucleotide Conjugates (AOCs™), which aim to combine the specificity of monoclonal antibodies with the precision of oligonucleotide therapies [5]. - The company is developing clinical programs for three rare muscle diseases: myotonic dystrophy type 1 (DM1), Duchenne muscular dystrophy (DMD), and facioscapulohumeral muscular dystrophy (FSHD) [5]. - Avidity is expanding its pipeline to include programs in cardiology and immunology through internal discovery and partnerships [5].