What's Going On With Avidity Biosciences Stock?

Avidity Biosciences Inc RNA shares are trading higher Wednesday after the company announced positive data demonstrating the first-ever successful targeted delivery of RNA into muscle.

What Happened: Avidity announced positive AOC 1001 data from the preliminary assessment of the Phase 1/2 MARINA trial, which demonstrated a successful targeted delivery of RNA into muscle. 

In addition, the trial showed meaningful DMPK reduction in 100% of participants, splicing improvement of 31% in a key set of muscle-specific genes and early signs of clinical activity with improvement in myotonia in some participants. 

"These unprecedented data open up the RNA field and underscore the potential of our AOC platform to expand the possibilities of how we can treat diseases and target a range of different cells and tissues beyond the liver, which up until now have been inaccessible with existing RNA-based therapeutics," said Art Levin, chief scientific officer at Avidity.

In September, the FDA placed a partial clinical hold on new participant enrollment in the Phase 1/2 MARINA trial. Avidity said it continues to work to resolve the partial hold on new participant enrollment as quickly as possible. 

Avidity is a biopharmaceutical company committed to delivering a new class of RNA therapeutics called Antibody Oligonucleotide Conjugates.

RNA Price Action: Avidity has a 52-week high of $26.12 and a 52-week low of $9.83.

The stock was up 36.8% at $15.03 at time of publication, according to Benzinga Pro.

Photo: Victoria Model from Pixabay.