Friday, December 16, 2022

Avidity Biosciences Ups Public Offering Size

San Diego-based biopharmaceuticals company Avidity Biosciences said on Thursday that it has upsized its public offering, and will be offering up 12,000,000 shares of its common stock at a price to the public of $17.25 per share, and is now expecting to raise $207M for the company. The company said it plans to use the new funding to fund the research and development of its development programs, to continue development work associated with advancing its AOC platform and for working capital and general corporate purposes. The company is working on RNA therapeutics.