Avidity Biosciences Inc., a biopharmaceutical company focused on developing RNA therapeutics, has announced a proposed public offering of its common stock, aiming to raise $500 million. The offering will be underwritten, with the company granting underwriters a 30-day option to purchase up to an additional $75 million in shares. Proceeds from this offering will support the advancement of Avidity's late-stage clinical programs, commercial inventory development, infrastructure expansion, research on its AOC platform, and general corporate purposes. The offering is being handled by joint bookrunning managers including Leerink Partners, J.P. Morgan, TD Cowen, Cantor, and Wells Fargo Securities. A preliminary prospectus supplement related to the offering will be filed with the SEC.