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Avidity Biosciences Reports Fourth Quarter and Year-End 2022 Financial Results and Recent Highlights
SAN DIEGO, Feb. 28, 2023 /PRNewswire/ -- Avidity Biosciences, Inc. (Nasdaq: RNA), a biopharmaceutical company committed to delivering a new class of RNA
About this update from Atrium Therapeutics, Inc.
[{"type":"text","content":"SAN DIEGO, Feb. 28, 2023 /PRNewswire/ -- Avidity Biosciences, Inc. (Nasdaq: RNA), a biopharmaceutical company committed to delivering a new class of RNA therapeutics called Antibody Oligonucleotide Conjugates (AOCs™), today reported financial results for the fourth quarter and year ended December 31, 2022 and highlighted recent corporate progress.\n\n \n \n \n \n \n \n\n \n\"In 2022, we executed on our goal of advancing three rare disease programs into clinical development and demonstrated the first-ever successful targeted delivery of RNA into muscle, a revolutionary advancement for the field of RNA therapeutics,\" said Sarah Boyce, president and chief executive officer at Avidity. \"Building on our AOC proof of platform data, 2023 will be another important year for Avidity. We look forward to Phase 1/2 MARINA™ and MARINA-OLE™ data as well as results from healthy volunteers in the Phase 1/2 EXPLORE44™ trial while continuing to expand the broad utility of our AOC platform.\"\n\"We are in a strong financial position with more than $600 million at year-end reflecting approximately $224M in net proceeds from our successful financing in December. We are well funded into mid-2025 as we advance our clinical development programs for AOC 1001, AOC 1044 and AOC 1020, as well as expand our AOC platform and pipeline programs including our recently announced internal programs in skeletal muscle and cardiology,\" said Mike MacLean, chief financial officer and chief business officer at Avidity.\nClinical Development Programs - Achievements & Updates\nAOC 1001\nPositive interim data from the preliminary assessment of AOC 1001 in the Phase 1/2 MARINA study demonstrated first-ever successful targeted delivery of RNA to skeletal muscle, DMPK reduction, splicing improvements and early signs of clinical activity with improvement in myotonia in some participants.Top-line data from the MARINA trial is anticipated in 2023 and preliminary data from the MARINA-OLE trial is anticipated in late 2023.The company plans to give an update on the AOC 1001 partial clinical hold at the end of the first quarter in 2023.AOC 1044\nThe FDA cleared Avidity to proceed with the Phase 1/2 EXPLORE44 clinical trial of AOC 1044 for the treatment of duchenne muscular dystrophy (DMD) mutations amenable to exon 44 skipping (DMD44). AOC 1044 is the first of multiple AOCs being...