- Avidity Biosciences, Inc. has closed its underwritten public offering, which included the full exercise of the underwriters' option to purchase additional shares, totaling **17,250,000 shares** of common stock.  **[1599901_20250915LA73565:0]** 
- The shares were sold at a price of **$40.00 per share**, generating **gross proceeds of $690.0 million** for Avidity.  **[1599901_20250915LA73565:0]** 
- The company intends to use the net proceeds to advance its three late-stage clinical programs, build commercial inventory, expand commercial infrastructure, progress research and development for its AOC platform, and for general corporate purposes.  **[1599901_20250915LA73565:0]**

Avidity Biosciences Announces Closing of Public Offering

- Avidity Biosciences, Inc. (RNA) announced the **pricing of an upsized underwritten public offering** of **15,000,000 shares** of its common stock at **$40.00 per share** on September 11, 2025.  **[1599901_0001193125-25-202371_d25770dex992.htm:0]** **[1599901_0001193125-25-202371_d25770d8k.htm:1]** **[1599901_0001193125-25-202371_d25770dex11.htm:47]** 
- The offering is expected to generate **gross proceeds of $600.0 million** and **net proceeds of approximately $564.0 million** for the company, with the potential for net proceeds to reach **approximately $648.8 million** if the underwriters' option to purchase an additional **2,250,000 shares** is fully exercised.  **[1599901_0001193125-25-202371_d25770dex992.htm:0]** **[1599901_0001193125-25-202371_d25770d8k.htm:1]** 
- Avidity intends to use the net proceeds to **advance its three late-stage clinical programs**, build commercial inventory, expand commercial infrastructure, progress research and development for its AOC platform, and for general corporate purposes.  **[1599901_0001193125-25-202371_d25770dex991.htm:0]** **[1599901_0001193125-25-202371_d25770dex992.htm:0]**

Avidity Biosciences Prices Upsized Public Offering

- Avidity Biosciences is on track to file its first Biologics License Application (BLA) for **Dalzosia** (for boys and young men amenable to exon 44 skipping) by the end of **2025** for accelerated approval, with clinical updates expected in the next couple of weeks.  **[1599901_tx_380786_0]** **[1599901_tx_380786_2]** **[1599901_tx_380786_4]**  The company estimates approximately **900 boys and young men** in the U.S. are amenable to Exon 44 skipping.  **[1599901_tx_380786_3]** 
- Enrollment for the HARBOR study, a global Phase 3 pivotal study for **Daldistarone** (for myotonic dystrophy), was completed in **July**.  **[1599901_tx_380786_0]**  Data readout is guided for **Q2 2026**, with two-year follow-up data from the Mirena OLE study expected in **Q4 2025**.  **[1599901_tx_380786_0]** **[1599901_tx_380786_4]**  Myotonic dystrophy is estimated to affect **40,000 patients** in the U.S., with **10,000** already identified and genetically confirmed.  **[1599901_tx_380786_7]** 
- Enrollment for the FORTITUDE biomarker study for **Delbrax** (for FSHD) was completed in **March**.  **[1599901_tx_380786_0]**  Data readout is also guided for **Q2 2026**, and the company has reached alignment with the FDA on cDUX as the primary endpoint for accelerated approval.  **[1599901_tx_380786_0]** **[1599901_tx_380786_8]**  The opportunity size for FSHD is considered similar to, if not larger than, myotonic dystrophy.  **[1599901_tx_380786_8]** 
- Avidity Biosciences plans to globally commercialize its drugs itself, leveraging synergies across the programs as they all target muscle diseases and use the same antibody oligonucleotide conjugates (AOCs) platform.  **[1599901_tx_380786_0]** **[1599901_tx_380786_1]**

Avidity Biosciences (RNA)