PepGen, Dyne rise after Novartis' $12 bln deal to buy rival Avidity

Avidity Biosciences

27/10/2025 15:24

** Shares of drug developer PepGen PEPG.O up 21% at $5.53, while Dyne Therapeutics DYN.O rise 37.5% at $23.54

** Rival Avidity Biosciences RNA.O on Sunday agreed to be acquired by Swiss drugmaker Novartis NOVN.S for about $12 billion in cash to bolster its portfolio of treatments for rare muscle disorders

** Pepgen and Dyne are also currently developing drugs to treat rare muscle disorders such as myotonic dystrophy type 1

** "We anticipate DYN to trade materially higher tomorrow given similar platform, not materially behind RNA and $2.4b cap"- RBC Capital Markets

** Including session moves, DYN up 1.8% and PEPG up 47.8% YTD

(Reporting by Sneha S K)

((Sneha.SK@thomsonreuters.com;))