Avidity Biosciences has announced the pricing of its upsized underwritten public offering of 15,000,000 shares of its common stock at a price to the public of USD 40 per share. All of the shares to be sold in the offering are to be sold by Avidity. The gross proceeds to Avidity from the offering, before deducting the underwriting discounts and commissions and other offering expenses, are expected to be USD 600 Million. The offering is expected to close on, or about 15 September, 2025, subject to the satisfaction of customary closing conditions. In addition, the company has granted the underwriters a 30-day option to purchase up to an additional 2,250,000 shares of common stock.

The company  intends to use the net proceeds from this offering, together with its existing cash, cash equivalents and marketable securities, to advance the development of its three late-stage clinical programmes, to build appropriate commercial inventory levels to support multiple potential launches, to expand its commercial infrastructure, to progress research and development associated with its AOC platform, and for working capital and general corporate purposes.

Leerink Partners, JP Morgan, TD Cowen, Cantor and Wells Fargo Securities are acting as joint bookrunning managers for the offering.

The securities described above are being offered by Avidity pursuant to a shelf registration statement that became automatically effective upon filing with the Securities and Exchange Commission (SEC). A preliminary prospectus supplement and accompanying prospectus relating to this offering were filed with the SEC and a final prospectus supplement relating to the offering will be filed with the SEC. The offering may be made only by means of a prospectus supplement and accompanying prospectus.