Avidity Biosciences Adjusts Stockholder Meeting for Novartis Merger and Distribution Timeline

Avidity Biosciences Gears Up for Strategic Merger and Stock Distribution

Avidity Biosciences, Inc. announces a pivotal update regarding its special meeting of stockholders, originally set for February 23, 2026. The meeting is now adjourned and will reconvene on February 26, 2026, at 10:00 a.m. Eastern. Accessing the meeting, stakeholders can utilize the same virtual link as previously planned. This adjournment aims to provide additional time to satisfy the conditions necessary for the pro rata distribution of all issued common stock of Atrium Therapeutics, Inc., following Avidity’s anticipated merger with Novartis AG. Avidity expects this distribution to be finalized on February 26, 2026, with the merger slated for close on February 27, 2026, contingent upon stockholder approval and necessary closing conditions detailed in Avidity's Definitive Proxy Statement filed on January 30, 2026.

This strategic move underscores Avidity's commitment to enhancing operational alignment and ensuring a seamless transition for stockholders as they unfold their merger plans with Novartis. The company signals that all previously submitted proxies for the special meeting will be honored at the reconvened event, allowing for a smooth continuation in stakeholder engagement. Shareholders who have not yet cast their votes are urged to do so and can contact Avidity’s proxy solicitor for further assistance. Additionally, Avidity will temporarily reassess its trading symbol on the Nasdaq Global Market to "RNAM" as part of this transition, indicating a new phase of growth and operational strategies for the company.

Avidity reiterates its dedication to profoundly improving patient outcomes through its innovative Antibody Oligonucleotide Conjugates (AOCs™). This new class of RNA therapeutics exemplifies Avidity's research-driven focus on advancing transformative medical solutions. The recent updates surrounding the merger and stock distribution reflect the company's proactive approach to align its structures for future success. As the health sector evolves, Avidity's strategic decisions highlight their commitment to meeting complex regulatory requirements while enhancing shareholder value through focused initiatives in RNA-based therapies.

With these developments, Avidity Biosciences is likely to remain a key player in the biotechnology landscape, committed to executing its strategies while aiming to maximize the impact on both its stakeholders and the broader community it serves.