Avidity Biosciences sets Feb. 12 record date for Atrium spin-off, 1-for-10 distribution

Avidity sets Feb. 12 record date for Atrium spin-off

Avidity Biosciences names the close of business Eastern Time on Feb. 12, 2026 as the record date for a pro rata distribution of shares in Atrium Therapeutics, the newly formed SpinCo that will house its early-stage precision cardiology programs. Under the plan tied to Avidity’s proposed acquisition by Novartis AG, holders of Avidity common stock receive one share of Atrium common stock for every ten Avidity shares held on the record date. Avidity notes the record date may change depending on the timing of the merger and spin-off, which remain subject to stockholder approval and other closing conditions disclosed in its definitive proxy statement.

Strategic split positions AOC platform for muscle disease focus

Avidity is separating its early-stage cardiology assets into Atrium to concentrate its core operations on Antibody Oligonucleotide Conjugates (AOCs), a proprietary platform that couples monoclonal antibody targeting with oligonucleotide precision. Company executives frame the move as a way to sharpen resources and development focus on programs that aim to deliver RNA therapeutics into muscle tissue — a capability Avidity says it has demonstrated for the first time. The shift is intended to advance clinical work in rare muscle diseases while allowing the newly created Atrium to pursue cardiology-specific discovery and early development strategies.

The carve‑out also reflects a governance and portfolio-management choice ahead of the Novartis transaction. By housing early cardiology candidates in a separate public vehicle, Avidity seeks to delineate risk profiles and development timelines across distinct therapeutic areas, potentially simplifying trial planning and partner collaborations for both entities. Completion of the merger and spin-off depends on customary closing conditions outlined in the company’s SEC filings; Avidity reiterates that timing and terms are subject to change as those processes conclude.

Pipeline progress and therapeutic focus

Avidity continues to advance clinical programs targeting myotonic dystrophy type 1 (DM1), Duchenne muscular dystrophy (DMD) and facioscapulohumeral muscular dystrophy (FSHD). In addition to the muscle-disease programs it retains, the company notes ongoing work in cardiology and immunology through partnerships and further discovery-stage initiatives.

Regulatory disclosures and communications

Avidity directs stakeholders to its definitive proxy statement filed with the U.S. Securities and Exchange Commission on Jan. 30, 2026 for details on the transaction, risks and timing. The company posts corporate and pipeline updates on its website and on social channels including LinkedIn and X.