01:59 PM EDT, 06/12/2024 (MT Newswires) -- (Updates with stock price movement in headline and first paragraph)

Avidity Biosciences ( RNA ) shares were up past 29% in recent Wednesday trading after the company announced initial data from an early-to-mid-stage study of its experimental drug AOC 1020.

Results from the clinical study showed a greater than 50% reduction in DUX4-regulated genes in patients with facioscapulohumeral muscular dystrophy, a rare muscle disease.

The company said it planned to accelerate the initiation of registrational cohorts in its early-to-mid study.

Avidity said AOC 1020 has also demonstrated favorable safety and tolerability, with all adverse events being mild or moderate.

Further, the company said it has identified delpacibart braxlosiran as the approved international nonproprietary name of AOC 1020, abbreviated as del-brax.

Price: 37.42, Change: +8.50, Percent Change: +29.39