Avidity Biosciences Says Lead Program Shows Reversal Of Disease Progression In Neuromuscular Disease
Portfolio Pulse from Vandana Singh
Avidity Biosciences Inc (NASDAQ:RNA) reported positive long-term data from the MARINA-OLE trial for its lead program, AOC 1001, showing disease progression reversal in myotonic dystrophy type 1 (DM1) patients. The data align with key endpoints of the Phase 3 HARBOR trial. Avidity announced the acceleration of the HARBOR trial and the approved name for AOC 1001 as delpacibart etedesiran (del-desiran). Over 265 infusions have demonstrated del-desiran's safety and tolerability. However, RNA shares dropped 9.75% to $18.15.
March 04, 2024 | 5:28 pm
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Avidity Biosciences Inc reported positive trial results for AOC 1001, showing reversal of DM1 disease progression, and announced the acceleration of the Phase 3 HARBOR trial. Despite the positive news, RNA shares fell 9.75% to $18.15.
The positive trial results and the acceleration of the Phase 3 trial for AOC 1001 indicate strong potential for Avidity Biosciences' lead program. However, the immediate market reaction was negative, as evidenced by the 9.75% drop in RNA shares. This could be due to various factors including market conditions, investor expectations, or profit-taking after the announcement. The long-term impact may differ as further developments occur and more data becomes available.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100