Avidity Q1 cash $915.9M, Phase 3 HARBOR trial on track, positive long-term DM1 data

Avidity Biosciences, Inc.

2024-Q1 EPS reported -$0.79 revenue$3,543,000

Cash position $915.9M at Q1 end after $400M private placement; funding into late 2026.
Phase 3 HARBOR trial for del-desiran in DM1 to initiate Q2 2024; FDA Breakthrough Therapy designation.
Long-term MARINA-OLE data showed reversal of DM1 progression on vHOT, muscle strength, daily activities.
R&D expenses $66.8M (up 40% YoY); collaboration revenue $3.5M (up 59% YoY).
Upcoming: FSHD FORTITUDE preliminary data Q2 2024, DMD EXPLORE44 5 mg/kg data 2H 2024.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Avidity Biosciences, Inc. reported financial results for first quarter ended March 31, 2024.

Period: first quarter ended March 31, 2024
Result: reported results

Exact text from the filing

On May 9, 2024, Avidity Biosciences, Inc. issued a press release announcing its financial results for the quarter and year ended March 31, 2024.

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Source: SEC EDGAR

accession 0001599901-24-000071

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