Shares of Avidity Biosciences Inc.
RNA,
rose 39 percent in premarketing on Wednesday after the company said its experimental RNA therapy, when injected into a muscle, has the potential to treat type 1 muscular dystrophy, a neuromuscular disease. sometimes fatal. Avidity says the Phase 1/2 clinical trial is the first time RNA has been introduced into muscle in humans. “We were encouraged by the initial clinical record of ‘1001 and found a positive readability for RNA’s [Antibody Oligonucleotide Conjugates] broad background,” SVB Securities analyst Joseph Schwartz told investors on Wednesday. Shares of Avidity have fallen 53.8% since the start of the year, while the S&P 500 is broader.
SPX,
down 15.6%.
