NEW YORK, NY / ACCESSWIRE / September 28, 2022 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Avidity Biosciences, Inc. ('Avidity' or the 'Company') (NASDAQ:RNA). Investors who purchased Avidity securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/rna.

The investigation concerns whether Avidity has violated federal securities laws.

On or around June 12, 2020, Avidity conducted its initial public offering ('IPO'), selling 14.4 million shares of common stock priced at $18.00 per share. Then, on September 27, 2022, Avidity issued a press release 'announc[ing] that the U.S. Food and Drug Administration (FDA) has placed a partial clinical hold on new participant enrollment in the Phase 1/2 MARINA™ clinical trial of AOC 1001 in adults with myotonic dystrophy type 1 (DM1).' Avidity stated that '[t]he partial clinical hold is in response to a serious adverse event reported in a single participant in the 4mg/kg cohort of the MARINA study.' On this news, Avidity's stock price fell $2.05 per share, or 10.93%, to close at $16.70 per share on September 27, 2022.

If you are aware of any facts relating to this investigation or purchasedAvidity shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/rna. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.

Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:

Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
212-697-6484 | [email protected]

SOURCE: Bronstein, Gewirtz & Grossman, LLC