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Jun 30, 2024
Avidity Biosciences Q2 2024 Earnings Report
Reported positive del-zota (AOC 1044) data, initiated global Phase 3 HARBOR™ trial, and planned to accelerate initiation of del-brax (AOC 1020) registrational cohorts.
Key Takeaways
Avidity Biosciences reported positive clinical trial data for del-zota and del-brax, initiated the global Phase 3 HARBOR™ trial for del-desiran, and plans to announce its lead precision cardiology program target in Q4 2024. The company's cash position at the end of the second quarter was approximately $1.3 billion.
Reported positive del-zota (AOC 1044) data from Phase 1/2 EXPLORE44™ trial demonstrating a 25% increase in dystrophin production and reduction of creatine kinase levels to near normal in people living with DMD44.
Initiated global Phase 3 HARBOR™ trial and began administration of del-desiran in people living with DM1; del-desiran received FDA Breakthrough Therapy designation.
Plans to accelerate initiation of del-brax (AOC 1020) registrational cohorts after reporting reductions in DUX4 regulated genes, trends of functional improvement and favorable safety and tolerability in people living with FSHD in Phase 1/2 FORTITUDE™ trial.
Announced lead precision cardiology program target planned for Q4 2024.
Revenue by Segment
Forward Guidance
Upcoming anticipated milestones include announcing lead precision cardiology program target in Q4 2024 and accelerating the initiation of registrational cohorts in FORTITUDETM trial.
Positive Outlook
- Announcing lead precision cardiology program target in Q4 2024.
- Accelerating the initiation of biomarker cohort in FORTITUDETM trial planned for 2H 2024.
- Accelerating the initiation of functional cohort in FORTITUDETM trial planned for 1H 2025.
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