Avidity reported FY 2025 results showing revenue of USD 18.76 million and a net loss of USD 684.6 million. Research and development expenses were USD 559.16 million, while general and administrative expenses totaled USD 205.54 million; other income was USD 61.31 million. Net cash used in operating activities was USD 650.44 million, and the company ended FY 2025 with USD 1.7 billion in cash, cash equivalents and marketable securities. For corporate updates, Avidity highlighted its pending merger with Novartis, signed October 25, 2025, which includes a planned pre-closing separation of its early-stage precision cardiology programs into SpinCo; the parties expect the merger, separation and related transactions to close in the first half of 2026, subject to conditions. The company also noted a USD 10 million clinical development milestone payment received from Eli Lilly in August 2025 under its collaboration agreement, and disclosed an August 2025 manufacturing agreement with a contract manufacturing organization that includes approximately USD 621.6 million in future unconditional minimum purchase obligations for 2026-2028.

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