Avidity Biosciences, a biopharmaceutical company, has announced its intention to adjourn and reconvene a special meeting of stockholders. The company plans to adjourn the special meeting to provide additional time to satisfy the conditions for the pro rata distribution of all issued and outstanding shares of Atrium Therapeutics, Inc. ("SpinCo") common stock to Avidity's stockholders, which is a condition to the closing of the proposed merger with Novartis AG.
The distribution is expected to occur on February 26, 2026, and the closing of the merger is expected to occur on February 27, 2026. The completion of the distribution and the merger is subject to the closing conditions noted in Avidity's definitive proxy statement filed on January 30, 2026, including receipt of stockholder approval.
To facilitate the distribution and transition of the stock symbol in connection with the closing of the merger, Avidity’s common stock will temporarily trade on the Nasdaq Global Market under the symbol "RNAM" beginning on the date of the distribution. The record date for the special meeting remains January 29, 2026, and will apply to the reconvened special meeting. Proxies previously submitted in respect of the special meeting will be voted at the reconvened special meeting unless properly revoked.
Avidity encourages stockholders who have not yet cast their votes to vote their shares now.
This announcement comes as Avidity Biosciences continues to navigate the process of finalizing the proposed merger with Novartis AG and the associated distribution of SpinCo common stock to its stockholders. Today the company's shares have moved -0.12% to a price of $72.51. For the full picture, make sure to review Avidity Biosciences's 8-K report.
