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Avidity Biosciences, Inc. (NASDAQ:RNA), a $4 billion market cap biopharmaceutical company focused on developing precision medicines for rare muscular disorders and other serious diseases, reported the outcomes of its 2025 Annual Meeting of Stockholders held on Monday. The company, which has delivered a strong 20% return to investors over the past year, maintains a FAIR financial health rating according to InvestingPro analysis.
At the meeting, three Class II directors were elected to serve a three-year term expiring at the 2028 Annual Meeting. Arthur A. Levin, Ph.D., received 107,228,713 votes for and 3,977,391 withheld, with 5,546,736 broker non-votes. Simona Skerjanec was elected with 110,454,102 votes for, 812,002 withheld, and the same number of broker non-votes. Tamar Thompson received 80,562,501 votes for, 30,703,603 withheld, and again, 5,546,736 broker non-votes.
Additionally, stockholders ratified the appointment of Deloitte & Touche LLP as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2025. The ratification passed with 116,729,544 votes for, 31,495 against, and 51,801 abstentions.
The compensation of the company’s named executive officers was approved on an advisory basis with 80,649,100 votes for, 25,309,060 against, 5,307,944 abstentions, and 5,546,736 broker non-votes.
The results of the meeting are detailed in an 8-K filing with the Securities and Exchange Commission. The filing also included standard corporate information such as the company’s address, telephone number, and state of incorporation, which is Delaware. The company’s fiscal year ends on December 31st.
This news is based on a press release statement and reflects the events and voting outcomes of the 2025 Annual Meeting of Stockholders of Avidity Biosciences, Inc.
In other recent news, Avidity Biosciences has announced positive topline data from its Phase 1/2 FORTITUDE trial for its investigational therapy, del-brax, targeting Facioscapulohumeral Muscular Dystrophy (FSHD). The company confirmed with the FDA that the accelerated approval pathway is available for del-brax, with plans to submit a Biologics License Application in the second half of 2026. The ongoing global Phase 3 FORWARD study aims to support a full approval package for this therapy. H.C. Wainwright has maintained a Buy rating on Avidity Biosciences, adjusting the stock’s price target to $68, citing the potential of the cDUX biomarker to expedite del-brax’s approval. Meanwhile, BofA Securities has raised its price target for Avidity Biosciences to $54, maintaining a Buy rating, reflecting optimism about the regulatory path for del-brax. The company has shown promising results in reducing disease biomarkers, such as KHDC1L and creatine kinase, in its trials. Avidity Biosciences’ efforts in advancing treatments for FSHD, a rare neuromuscular disease, continue to be closely watched by the biopharmaceutical industry. The advancements in del-brax could potentially lead to the first approved therapy for FSHD, marking a significant milestone in the treatment of this condition.
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