Avidity Biosciences, Inc. (NASDAQ: RNA) demonstrated a bullish trajectory on the United States market graphs yesterday, experiencing a remarkable uptick of 19.92% to culminate the session at $18.30. This surge in Avidity’s stock value ensued subsequent to the company’s proclamation of solidarity with Rare Disease Day, underscoring the paramount significance of fostering awareness regarding the profound ramifications rare diseases impose on individuals, their families, and caregivers globally.
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On Rare Disease Day, Avidity actively engaged with the international community in advocating for individuals grappling with rare diseases. Recently, RNA had the honor of hosting individuals affected by rare muscular disorders at Avidity. Their narratives, characterized by formidable trials, resolute determination, and unyielding optimism, epitomize the imperative nature of Avidity’s mission to significantly enhance people’s lives by spearheading a novel category of targeted RNA therapeutics.
Avidity remains steadfast in its commitment to attentively heed, assimilate, and collaborate with the patient and advocacy community, steadfastly forging ahead with its trio of clinical programs aimed at addressing rare muscular disorders encompassing DM1, DMD44, and FSHD.
Rare Disease Day is an annual observance occurring on the final day of February, endeavoring to amplify awareness surrounding the global impact of rare diseases. Through its partnership with more than 70 national alliance patient organizations, EURORDIS organizes Rare Disease Day to honor people living with rare illnesses, their caregivers, and their families.
Moreover, in an equity move, a select group of institutional and accredited healthcare specialists acquired 9,030,851 Avidity shares at $16,4990 in pre-funded warrant value as part of an oversubscribed private placement. Also disclosed was Avidity’s agreement to sell 15,224,773 shares at $16.50 per share, along with pre-funded warrants.
This pre-funded warrant is exercisable immediately and never expires. The exercise price is $0.001 per share. Avidity anticipates the gross proceeds from the private placement to approximate $400 million, prior to subtracting any fees or expenses associated with the offering. The closure of the private placement is slated for approximately March 4, 2024, contingent upon customary closing stipulations.
