04:55 PM EDT, 09/10/2025 (MT Newswires) -- Avidity Biosciences ( RNA ) said late Wednesday it plans a $500 million public offering of common shares.

The company will grant underwriters a 30-day overallotment option to buy up to an additional $75 million of common shares, according to a statement.

Net proceeds will be used with cash and cash equivalents to advance the development of three clinical programs, build commercial inventory to support rollouts, expand commercial infrastructure, and for general corporate purposes, the company said.

Shares fell 23% during after-hours trading.