Business
Avidity Biosciences Reports Second Quarter 2023 Financial Results and Recent Highlights
Advancing three clinical development programs – DM1, DMD, FSHD - with data anticipated from each program over the next 12 months SAN DIEGO, Aug. 8, 2023
About this update from Atrium Therapeutics, Inc.
[{"type":"text","content":"Advancing three clinical development programs – DM1, DMD, FSHD - with data anticipated from each program over the next 12 months\nSAN DIEGO, Aug. 8, 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 and recent highlights for the second quarter ended June 30, 2023. Avidity ended the second quarter of 2023 with cash, cash equivalents and marketable securities totaling $577 million.\n\n \n \n \n \n \n \n\n \n\"We are executing well across all three of our clinical development programs in three distinct rare muscle diseases – DM1, DMD and FSHD. We plan to report data from each of these clinical programs over the next 12 months,\" said Sarah Boyce, president and chief executive officer at Avidity. \"With the positive topline data from MARINA™ and the easing of the partial clinical hold, we are working to finalize the Phase 3 study design and global regulatory path for AOC 1001 in DM1, while advancing our programs for DMD and FSHD. There are no approved treatment options for these muscle diseases. We are working to bring these much-needed therapies to people as quickly as possible.\"\n\"At the close of Q2, we maintain a strong cash balance of $577 million. We are funded into the second half of 2025, allowing us to execute on advancing our clinical development programs in rare muscle diseases, expanding our AOC platform and broadening our pipeline in immunology, cardiology and other select indications outside of muscle,\" said Mike MacLean, chief financial officer and chief business officer at Avidity. \"As leaders in the RNA field, we are committed to investing in our platform, pipeline and people as we revolutionize a new class of targeted RNA therapeutics for people living with rare diseases.\"\nRecent Highlights\nThe company is now enrolling participants living with Duchenne muscular dystrophy with mutations amenable to exon 44 skipping (DMD44) into the AOC 1044 EXPLORE44™ trialThe Phase 1/2 MARINA trial concluded with 38 participants enrolled; 37 participants completed MARINA and have rolled over into the MARINA-OLE™In May, the U.S. Food and Drug Administration (FDA) eased the partial clinical hold on AOC 1001. Avidity is now dose escalating approximate...