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Avidity Biosciences Q1 2025 Earnings Report
Avidity Biosciences reported its Q1 2025 earnings, showing a decrease in revenue but an increase in operating expenses, leading to a higher net loss compared to the previous year.
Key Takeaways
Avidity Biosciences, Inc. reported a net loss of $115,773,000 for the three months ended March 31, 2025, an increase from the $68,855,000 net loss in the same period of 2024. Collaboration revenue decreased to $1,573,000 from $3,543,000, while total operating expenses significantly increased to $133,090,000 from $80,730,000. The company's cash, cash equivalents, and marketable securities stood at $1,379,877,000 as of March 31, 2025.
Net loss increased to $115,773,000 in Q1 2025 from $68,855,000 in Q1 2024.
Collaboration revenue decreased by $1,970,000 compared to the prior year.
Total operating expenses rose significantly to $133,090,000, driven by increased research and development and general and administrative costs.
The company maintains a strong liquidity position with $1,379,877,000 in cash, cash equivalents, and marketable securities.
Avidity Biosciences
Avidity Biosciences
Avidity Biosciences Revenue by Segment
Revenue by Segment
Collaboration Revenue
CapyFin.com Forward Guidance
The company expects operating losses to increase substantially due to ongoing and planned preclinical studies, clinical trials, manufacturing, and personnel expansion. They anticipate existing cash, cash equivalents, and marketable securities will fund operations for at least 12 months from the filing date of the Form 10-Q. Future funding will likely come from equity offerings, debt financings, or collaborations.
Positive Outlook
- Expected completion of enrollment for the ongoing Phase 3 HARBOR™ trial in mid-2025.
- Plan to provide an update from the ongoing MARINA-OLE™ trial including long-term 4mg/kg and safety data in Q4 2025.
- Expected publication of data analyses from the completed Phase 1/2 MARINA® trial during 2025.
- Planned marketing application submissions starting 2026, including in the U.S., European Union and Japan.
- Expected first BLA submission for del-zota at year end 2025.
Challenges Ahead
- Operating losses are expected to increase substantially into the foreseeable future.
- No revenues from product sales are expected until successful completion of development and regulatory approval.
- Inability to raise additional funds on favorable terms could negatively impact financial condition.
- Potential delays, limitations, or termination of product development efforts if adequate funding is not secured.
- Uncertainty in forecasting future capital requirements due to varying factors like trial scope, costs, and regulatory outcomes.