On June 16, 2020, Avidity Biosciences, Inc., a biopharmaceutical company pioneering a new class of oligonucleotide-based therapies called Antibody Oligonucleotide Conjugates (AOCs™), announced the closing of its initial public offering of 16,560,000 shares of common stock, which includes the exercise in full by the underwriters of their option to purchase 2,160,000 additional shares, at a public offering price of $18 per share. The aggregate gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Avidity, were approximately $298.1 million. Avidity's common stock is listed on the Nasdaq Global Market under the ticker symbol RNA.

Wilson Sonsini Goodrich & Rosati has advised the company in patent matters since 2013. The Wilson Sonsini team that advised Avidity on patent matters related to this transaction includes Michael Hostetler, Uale Taotafa, and Minyoung Shin.

For more information, please see Avidity's press release.