Avidity Biosciences reports Q3 EPS ($1.27), consensus ($1.10)

Reports Q3 revenue $12.5M, consensus $1.81M. Expects that its cash, cash equivalents and marketable securities as of September 30 of $1.9B will be sufficient to fund its operations to mid-2028. “In October, we announced that Avidity entered into a definitive merger agreement with Novartis, which we believe maximizes value for our investors, accelerates the global reach of our innovative neuroscience pipeline, and advances even more possibilities for our innovative science,” said CEO Sarah Boyce. “This important transaction, alongside compelling del-zota data and a successful pre-BLA meeting with the FDA in the third quarter, underscores the remarkable consistency of our AOC platform and the significant potential of del-zota, del-desiran, and del-brax to transform outcomes for people living with serious rare diseases. These achievements are possible because of our incredibly talented Avidity team and the close collaboration of the dedicated patient and clinical communities we serve.”