Avidity Biosciences Inc is working on a new class of class of RNA therapeutics. Photo credit: uclahealth.org/ Avidity Biosciences Inc. (Nasdaq: RNA), a Torrey Pines biopharmaceutical company, has closed its underwritten public offering of 12.13 million shares of common stock. That includes 1.58 million shares sold pursuant to the underwriters’ full exercise of options to purchase additional shares, at a price to the public of $38.00 per share. The gross proceeds to Avidity from the offering, before deducting underwriting discounts, commissions and other expenses, were approximately $461 million. The stock was trading at $37.76, down 1.47%, at midday Thursday, but has been on an
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