Analyst Conference Summary

biotechnology

conference date: November 9, 2021 (press release only)
for quarter ending: September 30, 2020 (third quarter, Q3 2021)

Forward-looking statements

Overview: Began first clinical trial.

Basic data (GAAP):

Revenue was $ million, up sequentially from $na million, and up from $ million year-earlier. All revenue was from collaborations.

Net loss was $8 million, down sequentially from loss of $na million, and from loss of $ million year-earlier.

EPS loss $, down sequentially from loss of $na, and from loss of $ year-earlier.

Guidance:

none

Conference Highlights:

Sarah Boyce, CEO said "" AOCs are Antibody Oligonucleotide Conjugates, a method of delivering RNA to target cells.

Avidity's most advanced program is AOC 1001 for DM1 (myotonic dystrophy type 1). Avidity advanced its first-in-class AOC 1001 toward the clinic. It entered into a collaboration with Myotonic Dystrophy Clinical Research Network supporting END-DM1, a natural history study to advance the understanding of disease progression in patients with DM1. The company plans to initiate a Phase 1/2 clinical study of AOC 1001 in adults with DM1 in the second half of 2021.

In April 2021 preclinical data for AOC1001 for DM1 was presented at the American Academy of Neurorogy 2021 meeting. This showed activity in cultured human muscle cells from DM1 patients.

Avidity also has potential therapies for other muscle diseases in development, with another possible IND planned for 2022.

Cash and equivalents ended at $ million, down sequentially from $na million. No debt.

Operating expense of $ million consisted of $ million for R&D and $ million for G&A.

Q&A:

none

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