SAN DIEGO, January 20, 2025 /PRNewswire/ — Avidity Biosciences, Inc. (Nasdaq: RNA), a biopharmaceutical company dedicated to delivering a new class of RNA therapeutics called Antibody Oligonucleotide Conjugates (AOCs™), today announced that January 20, 2025The Human Capital Management Committee of Avidity’s Board of Directors has granted a non-qualified stock option to purchase an aggregate of 10,500 shares of its common stock and 5,250 restricted stock units (“RSUs”) to one (1) new non-executive employee below Avidity Biosciences, Inc. 2022 Employment Incentive Plan (“2022 Incentive Plan”). The awards were granted as incentive material to employees employed by Avidity in accordance with Nasdaq Listing Rule 5635(c)(4).
The 2022 Incentive Plan is used solely to grant equity awards to individuals who were not previously employees of Avidity or after a bona fide period of non-employment, as an incentive material for such individuals to become employed by Avidity, in accordance with Nasdaq Listing Rule 5635(c )(4).
The option has an exercise price of $28.92 per share, which is equal to the closing price of Avidity’s common stock on the Nasdaq Global Market on the day January 17, 2025. The shares subject to the stock option are acquired over four years, and 25% of the shares are acquired for one year from December 20, 2024 or the vesting commencement date and the balance of the shares vesting in a series of 36 consecutive equal monthly installments thereafter, subject to the employee’s continued employment with Avidity on such vesting dates. The RSUs will vest in four equal installments on the first four anniversaries of the vesting start date, subject to the employee’s continued employment with Avidity on those vesting dates. Awards are subject to the terms and conditions of the 2022 Incentive Plan and the terms and conditions of the stock option agreement or RSU agreement, as applicable, covering the grant.
About greed
Avidity Biosciences, Inc mission is to profoundly improve people’s lives by delivering a new class of RNA therapeutics – Antibody Oligonucleotide Conjugates (AOCs™). Avidity is revolutionizing the RNA field with its proprietary AOCs, which are designed to combine the specificity of monoclonal antibodies with the precision of oligonucleotide therapies to address targets and diseases previously unreachable with existing RNA therapies. Using its proprietary AOC platform, Avidity has demonstrated the first-ever successful targeted delivery of RNA into muscle and is leading the field with clinical development programs for three rare neuromuscular diseases: myotonic dystrophy type 1 (DM1), Duchenne muscular dystrophy (DMD), and facioscapulohumeral muscular dystrophy (FSHD). ). Avidity is also advancing two wholly-owned precision cardiology development candidates that address rare genetic cardiomyopathies. In addition, Avidity is expanding AOC’s reach by advancing and expanding programs including programs in cardiology and immunology through key partnerships. Avidity is headquartered in San Diego, CA. For more information on our AOC platform, clinical development and people, visit www.aviditybiosciences.com and collaborate with us at LinkedIn and X.
Contact for investors:
Kat Lange(619) 837-5014
investors@aviditybio.com
Media contact:
Dee Andrews(619) 837-5016
media@aviditybio.com
