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Sep 30, 2024

Avidity Biosciences Q3 2024 Earnings Report

Reported financial results for the third quarter and highlighted recent corporate progress.

Key Takeaways

Avidity Biosciences reported positive del-zota data, initiated the biomarker cohort for the del-brax FORTITUDE study, and is on track with enrollment in the global Phase 3 HARBOR study for del-desiran. The company's cash position is approximately $1.6 billion.

Reported positive del-zota data from Phase 1/2 EXPLORE44 trial for DMD44.

Initiated biomarker cohort for del-brax FORTITUDE study for FSHD.

Enrollment in global Phase 3 HARBOR study for del-desiran in DM1 is on track.

Cash position of approximately $1.6 billion.

Total Revenue
$2.34M
Previous year: $2.82M
-17.1%
EPS
-$0.65
Previous year: -$0.71
-8.5%
Gross Profit
$2.34M
Previous year: $1.52M
+53.9%
Cash and Equivalents
$1.59B
Previous year: $543M
+192.8%
Free Cash Flow
-$67.3M
Previous year: -$37.7M
+78.5%
Total Assets
$1.64B
Previous year: $573M
+186.3%

Avidity Biosciences

Avidity Biosciences

Avidity Biosciences Revenue by Segment

Forward Guidance

Avidity plans to provide a first look at precision cardiology candidates and a glimpse at next-generation technology innovations.