Business
Avidity Biosciences Reports Second Quarter 2024 Financial Results and Recent Highlights
Avidity reports positive del-zota (AOC 1044) data; demonstrated 25% increase in dystrophin production and reduction of creatine kinase levels to near normal
About this update from Atrium Therapeutics, Inc.
[{"type":"text","content":"Avidity reports positive del-zota (AOC 1044) data; demonstrated 25% increase in dystrophin production and reduction of creatine kinase levels to near normal in people living with DMD44 in Phase 1/2 EXPLORE44™ trial \nInitiated global Phase 3 HARBOR™ trial and began administration of del-desiran in people living with DM1; del-desiran received FDA Breakthrough Therapy designation \nAvidity plans to accelerate initiation of del-brax (AOC 1020) registrational cohorts after reporting unprecedented and consistent reductions in DUX4 regulated genes, trends of functional improvement and favorable safety and tolerability in people living with FSHD in Phase 1/2 FORTITUDE™ trial\nAnnouncement of our lead precision cardiology program target planned for Q4 2024\nCash on hand of approximately $1.3 billion\nSAN DIEGO, Aug. 9, 2024 /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 second quarter ended June 30, 2024, and highlighted recent corporate progress.\n\n \n \n \n \n \n \n\n \n\"The last few months have been incredible for Avidity, but more importantly, for people living with DM1, FSHD and DMD. We received breakthrough designation for del-desiran, initiated the global Phase 3 HARBOR™ trial, reported unprecedented data from the del-brax FORTITUDE™ trial and earlier today, shared data from del-zota's Phase 1/2 EXPLORE44™ trial demonstrating significant increases in dystrophin production and exon 44 skipping for people living with DMD44,\" said Sarah Boyce, president and chief executive officer at Avidity. \"All of this progress is due to our AOC platform which has proven we can target a range of genetic diseases. We plan to expand beyond rare neuromuscular diseases as we share the first target from our precision cardiology pipeline in Q4 2024. These achievements, accomplished in conjunction with our patient communities, accelerate our vision of profoundly improving people's lives by revolutionizing RNA delivery.\"\n\"We successfully closed an upsized public offering in June, our second successful equity raise this year. Our cash position of ~$1.3 billion at the end of the second quarter, allows us to progress our current clinical trials and expand our DMD fra...