Avidity rises as US FDA lifts partial clinical hold on genetic disease drug

Avidity Biosciences

03/10/2024 13:00

** Shares of drug developer Avidity Biosciences  RNA.O  
rise 1.9% to $48.03 premarket 
    ** Co says US FDA has removed partial clinical hold on its
experimental genetic disease drug, del-desiran, which is being
tested in patients with Myotonic dystrophy type 1 
    ** FDA in 2022 placed partial clinical hold on enrolling any
new participant into the early-stage study testing del-desiran,
after a serious adverse event was reported in one participant  
    ** Myotonic dystrophy type 1 is a form of muscular dystrophy
that affects muscles and many other organs in the body
    ** Co says the drug is currently being evaluated in a
late-stage trial 
    ** Up to last close, stock has risen fourfold YTD

 (Reporting by Sneha S K)
 ((Sneha.SK@thomsonreuters.com;))