Business
Avidity Biosciences Reports Third Quarter 2021 Financial Results and Recent Highlights
Initiated the Phase 1/2 MARINA™ trial of AOC 1001, marking the first AOC in clinical development On track to have three clinical programs by the end of 2022
About this update from Atrium Therapeutics, Inc.
[{"type":"text","content":"Initiated the Phase 1/2 MARINA™ trial of AOC 1001, marking the first AOC in clinical development\n On track to have three clinical programs by the end of 2022\n Volume 3, Virtual Investor and Analyst Series, on December 9 at 11am ET featuring Jeffrey Statland, M.D., an expert and leading physician treating FSHD\n\n\nLA JOLLA, Calif., Nov. 9, 2021 /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 third quarter and nine months ended September 30, 2021 and highlighted recent corporate progress.\n\n \n \n \n \n \n \n\n \n\"This past quarter we initiated our Phase 1/2 MARINATM trial for AOC 1001, which transitions us into a clinical stage company. This trial is important for both AOC 1001 and our platform as it is expected to generate the first proof of concept data on the AOC platform's potential to deliver RNA therapy outside of the liver – a first for the field of RNA conjugates and for Avidity,\" said Sarah Boyce, president and chief executive officer. \"This is also an important milestone for the myotonic dystrophy community who currently have no therapeutic options. We look forward to sharing preliminary data on AOC 1001 in the second half of next year as we work to achieve our ambitious agenda of having AOCs for DM1, DMD and FSHD in the clinic by the end of 2022.\" \n\"Following completion of our successful first follow-on financing in August, we are well funded into 2024 with a cash balance of $413 million at quarter end. Given these significant financial resources, we are well positioned to complete the ongoing MARINA trial for AOC 1001, as well as initiate proof of concept clinical trials in 2022 for AOC 1044, the first of our DMD programs, and for our AOC FSHD program while we continue our investment in expanding our AOC platform,\" said Mike MacLean, chief financial officer.\nRecent Highlights:\nInitiated first clinical trial for an AOC – transitioning Avidity into a clinical stage company Initiated the Phase 1/2 MARINA trial of AOC 1001 in adults with myotonic dystrophy type 1 (DM1) Received clearance from the U.S. Food and Drug Administration (FDA) to proceed with the Phase 1/2 MARINA trial under Avidity's initial new drug application (IND...