SAN DIEGO, January 20, 2025 /PRNewswire/ — Avidity Biosciences, Inc. (Nasdaq: RNA), a biopharmaceutical company committed to providing a new class of RNA therapeutics called Antibody Oligonucleotide Conjugates (AOCs™), today announced that January 20, 2025The Human Capital Management Committee of Avidity’s Board of Directors has granted a non-qualified stock option award to purchase a total of 10,500 shares of its common stock and 5,250 restricted stock units (“RSUs”) to an employee of one (1) new non-manager. under Avidity Biosciences, Inc. 2022 Performance Incentive Award Plan (the “2022 Incentive Plan”). Awards are granted as incentive tools to employees entering employment with Avidity in accordance with Nasdaq Listing Rule 5635(c)(4).
The 2022 Inducement Plan is used only to grant equity awards to individuals who were not previously employees of Avidity, or after an actual period of non-employment, as instruments to induce such individuals to enter employment and Avidity, pursuant to Nasdaq Listing Rule 5635(c)(4).
The option has an exercise price of $28.92 per share, equal to the closing price of Avidity’s common stock on The Nasdaq Global Market on. January 17, 2025. Shares based on stock options will vest over four years, and 25% of the shares will vest on the one-year anniversary. December 20, 2024 or the date of commencement of the grant, and the remaining amount of the shares liable for the 36th consecutive monthly installments thereafter, subject to continued employment with Avidity on such dates to give. The RSUs will vest in four equal installments within the first four days of the vesting date, subject to continued employment and Avidity during 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 grant.
About Avidity
Shares of Avidity Biosciences, Inc mission is to dramatically improve people’s lives by providing a new class of RNA therapy – Antibody 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 therapies to address targets and diseases previously unreachable with existing therapeutics. RNA. Using its proprietary AOC platform, Avidity has demonstrated the first successful delivery of RNA into muscle and is leading the field with clinical development programs for three rare neuromuscular diseases: myotonic dystrophy type 1 (DM1), Duchenne muscular dystrophy (DMD) and facioscapulohumeral. muscular dystrophy (FSHD). Avidity is also developing two fully developed heart disease patients targeting genetic cardiomyopathies. In addition, Avidity is expanding the reach of AOCs through its developing and expanding pipeline to include programs in cardiology and immunology through key partnerships. Avidity’s offices are at San Diego, CA. For more information about our AOC platform, clinical and human development pipeline, please visit www.aviditybiosciences.com and contact us at LinkedIn and X.
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