Avidity (RNA) Jumps 9.2% on Drug Candidate’s Breakthrough Therapy Designation

We recently published 10 Shares Explode as Earnings Impress. Avidity Biosciences, Inc. (NASDAQ:RNA) is one of the best-performing stocks on Friday.

Avidity Biosciences saw its share prices increase by 9.21 percent on Friday to end at $36.27 apiece as investor sentiment was bolstered by the Food and Drug Administration’s (FDA) breakthrough therapy designation for its drug candidate for Duchenne muscular dystrophy (DMD) in people with mutations amenable to exon 44 skipping (DMD44).

In a statement earlier this week, Avidity Biosciences, Inc. (NASDAQ:RNA) said that its treatment candidate delpacibart zotadirsen (del-zota) is undergoing a phase 2 trial to test it in patients with DMD44.

DMD is a rare genetic condition that is characterized by progressive muscle damage and weakness due to the loss of dystrophin protein that typically starts at a very young age. Del-zota is designed to deliver phosphorodiamidate morpholino oligomers (PMOs) to skeletal muscle and heart tissue to specifically skip exon 44 of the dystrophin gene and enable production of near-full-length dystrophin.

According to Avidity Biosciences, Inc. (NASDAQ:RNA), it remains on track to submit a biologics license application by the end of the year.

Additionally, it is underway with preparations for a potential US launch following FDA approval.