San Diego, January 20, 2025 /PRNewswire/ — Avidity Biosciences, Inc (Nasdaq: RNA), a biopharmaceutical company committed to introducing a new class of RNA therapeutics called antibody oligonucleotide conjugates (AOCs™), announced today that in January 20, 2025the Human Capital Management Committee of the Avidity Board of Directors has granted a nonqualified stock option award to purchase an aggregate of 10,500 shares of its common stock and 5,250 restricted stock units (“RSUs”) to one (1) new non-executive employee under Avidity Biosciences, Inc 2022 Employment Incentive Award Scheme (“2022 Incentive Scheme”). The awards are made as material incentives to employees who enter employment with Avidity in accordance with Nasdaq Listing Rule 5635(c)(4).
The 2022 Incentive Plan is used exclusively to grant stock awards to individuals who are not previously employees of Avidity, or after a bona fide period of non-employment, as incentive material for such individuals to enter into employment with Avidity, pursuant to Nasdaq Listing Rule 5635(c)(4). ).
The option has an exercise price $28.92 per share, which is equivalent to the closing price of Avidity common stock on the Nasdaq Global Market on the day January 17, 2025. The shares subject to the stock option will vest over a period of four years, with 25% of the shares vesting on their first anniversary. December 20, 2024 or the vesting commencement date, and the balance of the shares vest in a series of 36 consecutive equal monthly installments thereafter, provided the employee continues employment with Avidity on such vesting dates. RSUs will vest in four equal installments on the first four-year anniversary of the vesting start date, subject to the employee's continued employment with Avidity on such vesting dates. Awards are subject to the terms and conditions of the 2022 Incentive Plan and the terms and conditions of the stock option agreement or RSU agreement, as applicable, covering the award.
About greed
Avidity Biosciences, Inc The mission is to profoundly improve people's lives by delivering a new class of RNA therapeutics – antibody-antigen oligonucleotide conjugates (AOCs™). Avidity is revolutionizing the RNA field with its AOCs, which are designed to combine the specificity of monoclonal antibodies with the precision of oligonucleotide therapeutics to address targets and diseases previously inaccessible with RNA therapeutics. current. Using its AOC platform, Avidity has demonstrated the first successful targeted delivery of RNA to muscle and is leading the field with clinical development programs for three rare neuromuscular diseases: muscular dystrophy type 1 (DM1), Duchenne muscular dystrophy (DMD). ) and facioscapulohumeral. Muscular dystrophy (FSHD). Avidity is also developing two wholly-owned precision heart disease development candidates that treat rare hereditary cardiomyopathies. Additionally, Avidity is expanding the scope of AOCs through its evolving and expanding pipeline including programs in cardiology and immunology through key partnerships. Avidity is headquartered in San Diego, California. For more information about our AOC platform, clinical development pipeline and people, please visit www.aviditybiosciences.com and interact with us at LinkedIn and X.
Investor contact:
Long cat(619) 837-5014
investors@aviditybio.com
Media Contact:
By Andrews(619) 837-5016
media@aviditybio.com
