SAN DIEGO, January 20, 2025 /PRNewswire/ — Greed Biosciences, Inc. (Nasdaq: RNA), a biopharmaceutical company committed to delivering a new class of RNA therapeutics called Antibody Oligonucleotide Conjugates (AOCs™), today announced that the January 20, 2025The Human Capital Management Committee of the Avidity Board of Directors has granted a grant of non-qualified stock options to purchase a total of 10,500 shares of common stock and 5,250 units of stock. restricted shares (“RSU”) to one (1) new non-executive employee. under the Greed Biosciences, Inc. 2022 Employment Incentive Plan (the “2022 Incentive Plan”). The awards were made as significant incentives for employees entering employment with Avidity pursuant to Nasdaq Listing Rule 5635(c)(4).
The 2022 Incentive Plan is used exclusively for granting stock awards to individuals who were not previously employees of Avidity, or following an actual period of non-employment, as incentive for such individuals to enter employment with Avidity, pursuant to Nasdaq Listing Rule 5635(c)(4).
The option has a strike price of $28.92 per share, which is equal to the closing price of Avidity’s common stock on the Nasdaq Global Market on January 17, 2025. The shares subject to the stock option will vest over four years, with 25% of the shares vesting on the first anniversary of December 20, 2024 or the vesting commencement date, and the balance of the shares will vest in a series of 36 successive equal monthly payments thereafter, subject to the employee’s continued employment with Avidity on such vesting dates. RSUs will vest in four equal installments over the first four anniversaries of the vesting start date, subject to the employee’s continued employment with Avidity on such vesting dates. Awards are subject to the terms and conditions of the 2022 Incentive Plan and the terms and conditions of a stock option agreement or RSU agreement, as applicable, covering the award.
About Greed
Avidity Biosciences, Inc. Its mission is to profoundly improve people’s lives by offering a new class of RNA-based therapeutic products: Antibody Oligonucleotide Conjugates (AOCs™). Avidity is revolutionizing the RNA field with its proprietary AOCs, designed to combine the specificity of monoclonal antibodies with the precision of oligonucleotide therapeutics to treat targets and diseases previously inaccessible with existing RNA therapies. Using its proprietary AOC platform, Avidity demonstrated the first ever successful targeted delivery of RNA into muscle and is leading the field with clinical development programs for three rare neuromuscular diseases: myotonic dystrophy type 1 (DM1), Duchenne muscular dystrophy (DMD) and facioscapulohumeral dystrophy. muscular dystrophy (FSHD). Avidity also has two wholly-owned precision cardiology development candidates addressing rare genetic cardiomyopathies. Additionally, Avidity expands the reach of AOCs through its advancing and expanding product portfolio, including programs in cardiology and immunology through key partnerships. Avidity is headquartered in San Diego, California. For more information about our AOC platform, clinical development pipeline and collaborators, please visit www.aviditybiosciences.com and engage with us on LinkedIn And X.
Investor contact:
Kat Lange(619) 837-5014
investors@aviditybio.com
Media Contact:
Andrews(619) 837-5016
media@aviditybio.com
