Avidity Biosciences Shares Slide After Disclosing Public Stock Offering

Dow Jones
09/11

By Freddy Sebastian

 

Shares of Avidity Biosciences slid after it disclosed a public offering of common stock.

The stock dropped 19.7% to $37.24 in premarket trading on Thursday.

The biopharmaceutical company late Wednesday said it planned to sell $500 million in shares in an underwritten public offering. Avidity said it would grant underwriters a 30-day option to purchase up to an additional $75 million in shares.

With proceeds, Avidity said it plans to advance the development of its three late-stage clinical programs, to build appropriate commercial inventory levels to support multiple potential launches, to expand its commercial infrastructure, and to progress R&D. It also plans to use proceeds for other working capital and general corporate purposes.

 

Write to Freddy Sebastian at freddy.sebastian@wsj.com

 

(END) Dow Jones Newswires

September 11, 2025 07:30 ET (11:30 GMT)

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