NASDAQ$RNAM
Avidity Biosciences Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Reported positive del-zota (AOC 1044) data, initiated global Phase 3 HARBOR™ trial, and planned to accelerate initiation of del-brax (AOC 1020) registrational cohorts.
Avidity Biosciences reported positive clinical trial data for del-zota and del-brax, initiated the global Phase 3 HARBOR™ trial for del-desiran, and plans to announce its lead precision cardiology program target in Q4 2024. The company's cash position at the end of the second quarter was approximately $1.3 billion.
- Reported positive del-zota (AOC 1044) data from Phase 1/2 EXPLORE44™ trial demonstrating a 25% increase in dystrophin production and reduction of creatine kinase levels to near normal in people living with DMD44.
- Initiated global Phase 3 HARBOR™ trial and began administration of del-desiran in people living with DM1; del-desiran received FDA Breakthrough Therapy designation.
- Plans to accelerate initiation of del-brax (AOC 1020) registrational cohorts after reporting reductions in DUX4 regulated genes, trends of functional improvement and favorable safety and tolerability in people living with FSHD in Phase 1/2 FORTITUDE™ trial.
- Announced lead precision cardiology program target planned for Q4 2024.
Headline financials
Revenue & EPS history
Avidity Biosciences · Revenue · Quarterly
$2.05M
Revenue by segment
Avidity Biosciences · $2.82M total across 1 segment · Q3 2023
- Collaboration revenue$2.82M—100.0%
Forward guidance
Upcoming anticipated milestones include announcing lead precision cardiology program target in Q4 2024 and accelerating the initiation of registrational cohorts in FORTITUDETM trial.
Tailwinds
- Announcing lead precision cardiology program target in Q4 2024.
- Accelerating the initiation of biomarker cohort in FORTITUDETM trial planned for 2H 2024.
- Accelerating the initiation of functional cohort in FORTITUDETM trial planned for 1H 2025.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 8 quarterly earnings reports · overlaid with Q2 2024
+1.3%
Avg return
Earnings day
+4.7%
Avg return
5 days after
+8.2%
Avg return
30 days after
55%
12 / 22 earnings
Positive
+19.5%
Q4 2023
Best reaction
-12.5%
Q1 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | — | — | — | |
| Q4 2025 | — | — | — | |
| Q3 2025 | +1.3% | +1.4% | +2.5% | |
| Q2 2025 | -2.7% | -2.8% | +6.1% | |
| Q1 2025 | -0.6% | +1.3% | -2.0% | |
| Q4 2024 | +5.4% | +1.7% | +11.9% | |
| Q3 2024 | -1.1% | -1.1% | -18.9% | |
| Q2 2024 | +6.2% | +2.6% | -2.9% | |
| Q1 2024 | -0.4% | +11.0% | +2.2% | |
| Q4 2023 | +19.5% | +23.1% | +66.6% | |
| Q3 2023 | -6.0% | — | — | |
| Q2 2023 | +6.0% | — | — | |
| Q1 2023 | +4.0% | — | — | |
| Q4 2022 | +5.6% | — | — | |
| Q3 2022 | +5.7% | — | — | |
| Q2 2022 | +0.2% | — | — | |
| Q1 2022 | -9.4% | — | — | |
| Q4 2021 | +0.9% | — | — | |
| Q3 2021 | -0.5% | — | — | |
| Q2 2021 | -1.4% | — | — | |
| Q1 2021 | -12.5% | — | — | |
| Q4 2020 | +7.5% | — | — | |
| Q3 2020 | -1.0% | — | — | |
| Q2 2020 | +1.9% | — | — | |
| Q1 2020 | — | — | — | |
| Q4 2019 | — | — | — | |
| Q3 2019 | — | — | — | |
| Q2 2019 | — | — | — | |
| Q1 2019 | — | — | — |
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