Eric Mosbrooker
About Eric Mosbrooker
Eric Mosbrooker, 58, is Chief Commercial Officer at Avidity Biosciences (NASDAQ: RNA) since January 2025, after serving as Chief Strategy Officer in 2024 and as a director from August 2021 to December 2024 . He holds a B.S. in Industrial Engineering from the University of Wisconsin–Madison and has 20+ years leading commercial operations, market access, and product launches across rare diseases and gene therapy . Company performance context during his tenure: Avidity’s revenues rose from $9.22M (FY22) to $10.90M (FY24), while EBITDA losses widened as the pipeline and platform scaled (FY22: -$177.5M*, FY24: -$376.2M*) [GetFinancials]. TSR rebounded strongly in 2024 (company cumulative index value 162; peer index 117), reflecting investor confidence in advancing programs and financings .
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Revenues ($USD) | $9.22M [GetFinancials] | $9.56M [GetFinancials] | $10.90M [GetFinancials] |
| EBITDA ($USD) | -$177.5M* [GetFinancials] | -$233.5M* [GetFinancials] | -$376.2M* [GetFinancials] |
*Values retrieved from S&P Global.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Avidity Biosciences | Chief Commercial Officer | Jan 2025–present | Commercial leadership across DM1, FSHD, DMD programs; launch planning and market development . |
| Avidity Biosciences | Chief Strategy Officer | Jan 2024–Dec 2024 | Built commercialization roadmap, education campaigns; aligned Phase 3 and pivotal strategies . |
| Avidity Biosciences | Director (Class II) | Aug 2021–Dec 2023 | Human Capital Management Committee member; governance and compensation oversight . |
| Cognoa | Chief Operations Officer | Jan 2021–Feb 2023 | Led commercial, product, and business operations for digital therapeutics . |
| Audentes Therapeutics | Chief Commercial Officer | Jan 2019–Jan 2021 | Built gene therapy commercial unit; prelaunch strategy execution . |
| Horizon Pharma (post-Raptor acquisition) | SVP, Global Orphan Business Unit | Nov 2016–Apr 2018 | Grew orphan franchise, integration and market access across geographies . |
| Raptor Pharmaceuticals | SVP, Americas & APAC | Mar 2016–Nov 2016 | Regional P&L and rare disease launches pre-acquisition . |
| Alexion/Enobia; Onyx; Jazz; Chiron; Millennium | Various commercial roles | 2000s–2010s | Multi-modality commercial ops, market access, and launches across neuromuscular/metabolic/oncology . |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| None disclosed | — | — | No current public-company directorships disclosed beyond prior Avidity board service . |
Fixed Compensation
- Not disclosed for Mosbrooker. 2024 NEO base salaries and targets are provided for other executives (CEO 2024 base $659,900; NEO bonus targets: CEO 55% of base, others 40%) but Mosbrooker was not a 2024 NEO, and his specific cash compensation figures are not reported .
Performance Compensation
Company program design and 2024 payout context (applies to NEOs; Mosbrooker-specific payout not disclosed):
- 2024 corporate goals and weights: clinical advancement and launch strategies for del-desiran/del-brax/del-zota (60%); precision cardiology and next-gen AOC innovation (20%); culture/organization/capital (20%). Achievement assessed at 150% of target based on Phase 3 initiation/removal of partial hold, regulatory alignment, commercialization roadmaps, and data packages .
| Metric Category | Weight | Target (Examples) | Actual Outcome | Payout Factor |
|---|---|---|---|---|
| Clinical advancement & launch strategies (del-desiran, del-brax, del-zota) | 60% | Phase 3 HARBOR initiation; pivotal strategy formation; regulatory alignment | HARBOR initiated; partial hold removed; pivotal strategies set; commercialization roadmaps advanced | 150% of target (corporate) |
| Precision cardiology & next-gen technology | 20% | Preclinical milestones; platform innovation | Preclinical milestones met; next-gen AOC progressed | 150% |
| Culture, org capabilities & capital | 20% | Culture goals; capital adequacy | Culture goals achieved; capital raised via offerings and PIPE | 150% |
Equity incentive structure (company-wide design):
- Options: fair market value strike; monthly vest over 4 years (new hire grants: 25% at year 1 then monthly); align pay with stock appreciation .
- RSUs: four equal annual tranches; retention-effective and less dilutive .
- PSUs: 2024 special PSUs vest in three equal tranches upon milestone achievements for del-desiran, del-brax, and del-zota by 12/31/2029; eligible to vest in full upon change in control . 2023 PSUs fully vested by March 11, 2025 following goal achievement and service-based vesting .
Equity Ownership & Alignment
- Beneficial ownership as of April 17, 2025: 61,120 shares held directly and 190,771 stock options exercisable within 60 days; total economic interest reflects <1% of shares outstanding (group table marks individuals with “* less than 1%”). Shares outstanding at record date: 120,520,928 .
- Hedging/pledging: Company Insider Trading Policy prohibits hedging, short sales, margin purchases, and pledging; no exception disclosed for Mosbrooker (an exception was granted historically for the Chair, not Mosbrooker) .
- Insider trading activity: Company disclosed multiple Form 4 filings for Mosbrooker in 2025 (Aug 8, Sep 5, Oct 7), indicating active Section 16 reporting during the pending Novartis transaction period (transaction specifics not detailed in proxy) .
| Ownership Item | Value | Notes |
|---|---|---|
| Common shares owned | 61,120 | Direct holdings |
| Options exercisable ≤60 days | 190,771 | Aggregated vested/exercisable within 60 days |
| % of shares outstanding | <1% | Individuals marked “* less than 1%” in table |
| Hedging/Pledging | Prohibited | No Mosbrooker-specific exceptions disclosed |
Employment Terms
- Mosbrooker’s specific employment agreement is not disclosed. Company standard executive agreements (for other NEOs) include: 12 months base salary and COBRA for termination without cause/good reason outside change-in-control; and, within 59 days prior to or 24 months post change-in-control, 18 months base salary, 150% of target bonus, prorated bonus, COBRA, and accelerated vesting of unvested time-based equity; PSUs vest at target upon change in control .
- Clawback policy: Adopted in September 2023 to comply with SEC/Nasdaq; applies to incentive compensation received on or after October 2, 2023 for current/former executive officers .
| Provision (Company Standard for NEOs) | Outside CIC | Within CIC Window | Notes |
|---|---|---|---|
| Cash severance | 12 months base salary (lump sum) | 18 months base salary (lump sum) + 150% target bonus + prorated target bonus | CEO terms differ (higher multiples) |
| Health benefits (COBRA) | Up to 12 months | Up to 18 months | |
| Equity acceleration | None (outside CIC) | Accelerate time-based awards; PSUs vest at target on CIC | |
| Clawback | SEC/Nasdaq compliant policy | Applies equally | Adopted Sep 2023 |
Change-of-control treatment in pending Novartis acquisition (transaction announced Oct 2025):
- At $72 per share, in-the-money options are cancelled for cash equal to intrinsic value; RSUs (time- or performance-based) are cancelled and paid in cash equal to shares × $72, subject to applicable withholdings . This reduces near-term insider selling pressure by converting equity to cash at closing.
Performance & Track Record
- 2024 execution highlights underpinning pay-for-performance: Phase 3 HARBOR trial initiation for del-desiran; alignment with FDA/EMA and removal of partial hold; pivotal strategy framing for del-brax; and data package for del-zota including potential accelerated approval pathway—driving a 150% corporate performance determination .
- Capital formation and scale-up: Multiple underwritten offerings in Jun/Aug 2024 and robust ATM utilization in 2025; sublease of new headquarters and expansion with significant tenant improvement allowances supporting scale-up .
- Say-on-pay approval: 98.5% support in 2024, evidencing investor alignment with compensation practices .
Board Governance
| Attribute | Detail |
|---|---|
| Avidity Board service | Director (Class II), Aug 2021–Dec 2023; HCM Committee member |
| Meeting attendance | Directors achieved ≥75% attendance in 2024; broader board governance practices detailed in Corporate Governance Guidelines |
| Independence | Mosbrooker served as independent director while on Board (HCM committee independent slate) |
Risk Indicators & Red Flags
- Hedging/pledging: Prohibited; no Mosbrooker exception disclosed (Board allowed limited pledging for Chair in 2023 under strict conditions) .
- Clawback: Active policy reduces risk of misaligned incentives .
- Insider activity: Multiple Form 4 filings in Aug–Oct 2025; transaction specifics not in proxy. Activity occurred around pending Novartis deal timing, a period often governed by 10b5-1 plans and blackout policies .
- Internal controls: 2023 ITGC weakness remediated by 2024; unqualified opinion thereafter—reduces control risk backdrop .
Compensation Peer Group & Philosophy (Context)
- Peer group: 20 biopharma peers selected for 2024 (market cap $300M–$3B; Phase 1–2 stage; <400 employees; biotech hubs) .
- Philosophy: Significant at-risk pay via short-term incentives tied to corporate goals and long-term equity (options/RSUs/PSUs); double-trigger CIC; no tax gross-ups; anti-hedging/pledging .
Investment Implications
- Alignment: Mosbrooker’s role centers on commercialization readiness for multiple rare-disease programs; PSUs tied to clinical/commercial milestones drive long-term value creation alignment .
- Retention risk: While specific contract terms for Mosbrooker aren’t disclosed, company-standard double-trigger CIC and cash-out of equity at $72/share reduce near-term selling pressure but may necessitate post-close retention packages to preserve commercial momentum .
- Trading signals: Cluster of 2025 Form 4s indicates active equity movements; combined with merger cash-out mechanics, near-term insider selling is structurally mitigated, but monitoring post-close grants and 10b5-1 adoptions will be key .
- Execution: 150% corporate performance payout for 2024 supports confidence in operational delivery; strengthened capital position and expanded facilities underpin commercialization scale, enhancing odds of value realization from Mosbrooker’s commercial leadership .