Avidity Biosciences, Inc. (RNA) - A Bullish M&A Thesis

Friday, Dec 5, 2025 8:43 pm ET1min read
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Avidity Biosciences, Inc. (RNA) is a biotech company that is being acquired by Novartis in a deal expected to close in H1 2026. The transaction includes a SpinCo entity with $270 million in cash and rights from collaborations with BMY and Lilly. Assuming the main deal closes at $40 per share, the cash portion would be worth $70.3 per share, with potential upside if the SpinCo assets are monetized. The market may be undervaluing the deal due to timing uncertainty and reallocation of biotech funds.

Avidity Biosciences, Inc. (RNA) - A Bullish M&A Thesis

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