Friday, June 12, 2020

Avidity Biosciences Prices IPO

San Diego-based Avidity Bio, a biopharmaceuticals company working on oligonucleotide-based therapies, priced its IPO last night, saying that it will offer up 14,400,000 shares of its common stock at $18.00 per share. The company priced above its initial estimated offering range of $14.00 to $16.00 per share. The company said it will begin trading on the Nasdaq Global Market today, June 12th, under the ticker symbol RNA. Avidity Biosciences is venture backed by RTW Investments, Cormorant Asset Management, Eli Lilly and Company, ALETHEA Capital Management, and EcoR1 Capital.