Avidity Biosciences Sets Feb. 12, 2026 Record Date for Atrium SpinCo Distribution (1-for-10)

Board sets Feb. 12 record date for Atrium distribution as part of Novartis deal

Avidity Biosciences says its board designates the close of business Eastern Time on Feb. 12, 2026 as the record date for a pro rata distribution of all issued and outstanding shares of Atrium Therapeutics, the planned SpinCo, to holders of Avidity common stock. Under the distribution, each Avidity shareholder will receive one share of Atrium common stock for every 10 shares of Avidity held on the record date. The action is tied to Avidity’s previously announced proposed acquisition by Novartis AG and the planned separation of Avidity’s early-stage precision cardiology programs into SpinCo.

Avidity stresses that completion of the merger with Novartis and the Spin‑Off remains subject to customary closing conditions set out in its definitive proxy statement filed with the U.S. Securities and Exchange Commission on Jan. 30, 2026, including shareholder approval. The company warns the record date may change depending on the timing of the merger and spin-off closing. The board’s designation signals progress in the dual-track transaction structure that parcels early cardiology assets into a separate entity while proceeding with the strategic combination with Novartis.

The company frames the distribution as a mechanism to preserve value and continuity for holders as Avidity reorganises its asset base ahead of the proposed transaction. Avidity, headquartered in San Diego, says the move will allow focused development of its cardiology programs under Atrium while the rest of its pipeline and AOC platform align with the combined company’s strategic priorities under the Novartis agreement.

AOC platform and clinical programs

Avidity reiterates its mission to deliver Antibody Oligonucleotide Conjugates (AOCs), a proprietary platform intended to combine monoclonal antibody specificity with oligonucleotide precision to target tissues historically difficult for RNA therapies. The company says it has demonstrated the first targeted delivery of RNA into muscle and is advancing clinical programs for three rare muscle diseases — myotonic dystrophy type 1, Duchenne muscular dystrophy and facioscapulohumeral muscular dystrophy — alongside two wholly owned precision cardiology development candidates and partnered programs in cardiology and immunology.

Regulatory filings and investor resources

Avidity directs investors to review the definitive proxy statement, related exhibits and additional SEC filings for the terms, risks and timing of the transaction and distribution. The company posts corporate and pipeline details on its website and maintains updates via LinkedIn and X regarding the merger, spin-off and clinical progress.