Avidity Biosciences Sets Feb. 12, 2026 Record Date for Atrium Spin‑Off Linked to Novartis Deal

Atrium Spin‑Off Record Date Tied to Novartis Deal

Avidity Biosciences says its board sets the close of business Eastern Time on Feb. 12, 2026 as the record date for a pro rata distribution of shares in newly created Atrium Therapeutics Inc. The company is allocating one share of Atrium common stock for every 10 shares of Avidity common stock held on the record date as part of a planned separation of Avidity’s early‑stage precision cardiology programs into the new entity. The distribution is linked to Avidity’s previously announced proposed acquisition by Novartis AG, which includes the spin‑off of the cardiology assets into Atrium.

Avidity notes completion of the merger with Novartis and the spin‑off of Atrium remain subject to customary closing conditions disclosed in its definitive proxy statement filed with the U.S. Securities and Exchange Commission on Jan. 30, 2026. Those conditions include receipt of Avidity stockholder approval and other approvals required to close the transaction, and the company cautions that the record date may change depending on the Merger and Spin‑Off closing date. The company reiterates that the distribution covers all issued and outstanding Avidity common stock as of the record date.

Corporate officials present the move as a structural step to separate Avidity’s precision cardiology research into a standalone SpinCo while allowing the core AOC (Antibody Oligonucleotide Conjugate) business to continue under Avidity. The board action formalizes timing for the distribution but leaves the ultimate schedule contingent on the outcome of regulatory and shareholder processes tied to the Novartis transaction.

Platform Progress and Clinical Focus

Avidity, headquartered in San Diego, emphasizes its AOC platform that combines monoclonal antibody targeting with oligonucleotide therapeutics to reach tissues historically difficult for RNA therapies. The company is advancing clinical programs for three rare muscle diseases — myotonic dystrophy type 1, Duchenne muscular dystrophy and facioscapulohumeral muscular dystrophy — alongside two wholly owned precision cardiology development candidates that are slated for transfer into Atrium.

Documentation and Company Communications

Further details on timing, terms and risks appear in Avidity’s definitive proxy statement and related SEC filings, which the company points to for full transaction disclosures. Avidity directs interested parties to its website and to company updates posted on LinkedIn and X for ongoing information about the merger, spin‑off and clinical progress.