Avidity Biosciences reports Q3 EPS (71c), consensus (77c)

Reports Q3 revenue $2.82M, consensus $1.84M. “In early October we announced new positive AOC 1001 data that demonstrated improvement in multiple additional functional endpoints, as well as favorable long-term safety and tolerability, in people living with DM1,” said Sarah Boyce, president and chief executive officer. “In addition, we announced the completion of the 12-participant dose escalation from 2 mg/kg to 4 mg/kg as part of the partial clinical hold easement and look forward to finalizing the Phase 3 study design and global regulatory path for AOC 1001. We continue to make significant strides across all three of our clinical development programs, remaining on track to report data this year for AOC 1044 in DMD and in the first half of 2024 for both AOC 1001 in DM1 and AOC 1020 in FSHD”. “With funding into the second half of 2025 and continued execution across our portfolio, we remain very confident in the progress we are making in advancing our clinical development programs for DM1, DMD and FSHD,” said Mike MacLean, chief financial officer and chief business officer. “The recently presented positive AOC 1001 data at World Muscle Society Congress reinforces our confidence in our AOC platform, which spans multiple therapeutic areas, and our ability to deliver on our vision to profoundly improve people’s lives by revolutionizing the delivery of RNA therapeutics”.