Avidity Biosciences Filed Prospectus For Proposed Resale Or Other Disposition By Selling Securityholders Of Up To 15.2M Shares Of Common Stock; Prospectus For Up To 9M Shares Issuable Upon Exercise Of Pre-funded Warrants
Portfolio Pulse from Charles Gross
Avidity Biosciences has filed a prospectus for the proposed resale or other disposition by selling securityholders of up to 15.2 million shares of common stock. Additionally, the prospectus covers up to 9 million shares issuable upon the exercise of pre-funded warrants.
April 02, 2024 | 8:24 pm
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NEUTRAL IMPACT
Avidity Biosciences has announced a filing for the resale of up to 15.2 million shares and up to 9 million shares issuable from pre-funded warrants, potentially increasing the stock's liquidity.
The filing by Avidity Biosciences for the resale of a significant number of shares and the issuance of shares from pre-funded warrants could lead to increased liquidity in the market for RNA shares. However, the impact on the stock price could be neutral in the short term as the market absorbs the news and evaluates the potential for dilution versus the benefits of increased liquidity.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100