Business
Avidity Biosciences Reports Third Quarter 2022 Financial Results and Recent Highlights
Company has three distinct rare disease programs in clinical development - myotonic dystrophy type 1 (DM1), facioscapulohumeral muscular dystrophy (FSHD), and
About this update from Atrium Therapeutics, Inc.
[{"type":"text","content":"Company has three distinct rare disease programs in clinical development - myotonic dystrophy type 1 (DM1), facioscapulohumeral muscular dystrophy (FSHD), and Duchenne muscular dystrophy (DMD)\nOn track for preliminary assessment of AOC 1001 MARINA™ trial in fourth quarter\nSAN DIEGO, Nov. 8, 2022 /PRNewswire/ -- Avidity Biosciences, Inc. (Nasdaq: RNA), a biopharmaceutical company committed to delivering a new class of RNA therapeutics called Antibody Oligonucleotide Conjugates (AOCs™), today announced financial results for the third quarter ended September 30, 2022 and highlighted recent corporate progress. \n\n \n \n \n \n \n \n\n \n\"Consistent with our guidance for 2022, we have progressed three programs addressing three distinct rare diseases into clinical development, and we remain on track for our preliminary assessment of the MARINA™ trial this quarter,\" said Sarah Boyce, president and chief executive officer. \"Our team continues to execute on our plan as we advance AOC 1020 for FSHD in the FORTITUDE™ trial and AOC 1044 for DMD in the EXPLORE44™ trial. With close to 40 participants enrolled in the MARINA trial, we continue to gather data on AOC 1001 as we work to resolve the recent partial clinical hold on new participant enrollment as swiftly as possible.\"\n\"With approximately $425 million, inclusive of additional funds raised subsequent to September 30th, we have cash runway through 2024 allowing us to invest in the expansion of our AOC platform and our three clinical stage programs addressing rare skeletal muscle diseases,\" said Mike MacLean, chief financial and chief business officer.\nRecent Highlights\nU.S. Food and Drug Administration (FDA) placed a partial clinical hold on new participant enrollment in the Phase 1/2 MARINA clinical trial of AOC 1001 in adults with DM1. The partial hold is in response to a serious adverse event reported in a single participant in the 4mg/kg cohort of the MARINA study. All current participants, whether they are on AOC 1001 or placebo, may continue in their current dosing cohort and roll over into the MARINA open label extension (MARINA-OLE™) where they will receive AOC 1001.The Company remains on track to report a preliminary assessment from the MARINA trial in the fourth quarter of 2022.The FDA cleared Avidity to proceed with Phase 1/2 trials for AOC 1020 for adults with FSHD...