Reported Earlier, Avidity Biosciences Prices $300.1M Upsized Public Offering Of 7,320,000 Common Stock At $41/Share
Portfolio Pulse from Benzinga Newsdesk
Avidity Biosciences has announced a $300.1 million upsized public offering of 7,320,000 common stock at $41 per share. The offering is expected to close on August 16, 2024, and the proceeds will be used to fund clinical programs, advance R&D, and for general corporate purposes.
August 15, 2024 | 7:00 am
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Avidity Biosciences has priced a $300.1 million upsized public offering of 7,320,000 common stock at $41 per share. The offering is expected to close on August 16, 2024, and the proceeds will be used to fund clinical programs, advance R&D, and for general corporate purposes.
The successful pricing of the upsized public offering indicates strong investor interest and provides Avidity Biosciences with significant capital to advance its clinical programs and R&D. This is likely to be viewed positively by the market, potentially driving the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100