Avidity Biosciences to Offer $500mln of Common Stock in Public Offering.

Avidity Biosciences plans to raise $500 million through a public offering of common stock, with an additional $75 million option for the underwriters. The biopharmaceutical company aims to use the net proceeds from the offering, along with existing cash, to fund its research and development programs, including its Antibody Oligonucleotide Conjugates (AOCs) platform. The offering is subject to market and other conditions.

San Diego-based Avidity Biosciences, Inc. (NASDAQ: RNA) has announced plans to raise $500 million through a public offering of common stock, with an additional $75 million option for underwriters. The biopharmaceutical company aims to use the net proceeds from the offering, along with existing cash, to fund its research and development programs, including its Antibody Oligonucleotide Conjugates (AOCs) platform. The offering is subject to market and other conditions.

The offering, expected to close around September 15, 2025, will generate approximately $600 million in gross proceeds before deducting underwriting discounts, commissions, and other expenses Avidity Biosciences prices upsized public offering at $600 million^[1]. Avidity has granted underwriters a 30-day option to purchase up to an additional 2.25 million shares. The company, currently valued at approximately $5.3 billion, maintains a strong financial position with more cash than debt on its balance sheet and a healthy current ratio of 9.26x Avidity Biosciences prices upsized public offering at $600 million^[1].

The funds will be used to advance three late-stage clinical programs, build commercial inventory for potential product launches, expand commercial infrastructure, and continue research and development of its AOCs platform. The company focuses on developing AOCs, which combine monoclonal antibodies with oligonucleotide therapies, targeting rare muscle diseases such as myotonic dystrophy type 1, Duchenne muscular dystrophy, and facioscapulohumeral muscular dystrophy Avidity Biosciences prices upsized public offering at $600 million^[1].

Leerink Partners, J.P. Morgan, TD Cowen, Cantor, and Wells Fargo Securities are serving as joint bookrunning managers for the offering Avidity Biosciences prices upsized public offering at $600 million^[1]. This substantial financing move comes at a critical juncture as the company prepares to advance its three late-stage clinical programs and build commercial infrastructure. The involvement of multiple high-profile underwriters adds credibility to this offering Avidity Biosciences Announces Proposed Public Offering of Common Stock^[2].

The offering is being made pursuant to an automatically effective shelf registration statement filed with the Securities and Exchange Commission Avidity Biosciences prices upsized public offering at $600 million^[1]. Avidity Biosciences has received positive feedback from analysts regarding its Duchenne muscular dystrophy (DMD) drug, del-zota, which has shown significant improvements in functional measures for patients in trials Avidity Biosciences prices upsized public offering at $600 million^[1].