Avidity Biosciences, Inc. (Avidity) has been acquired by Novartis AG (Novartis) through its subsidiary, Ajax Acquisition Sub, Inc. (Merger Sub), with Avidity becoming an indirect wholly owned subsidiary of Novartis. At the effective time of the merger, each share of Avidity common stock was cancelled and converted into the right to receive $72.00 in cash, without interest and subject to tax withholdings. Outstanding Company Stock Options with an exercise price less than the Merger Consideration were fully vested and converted into a cash payment equal to the difference between the Merger Consideration and the exercise price, multiplied by the number of shares. Outstanding Company Restricted Stock Units (RSUs), excluding New Hire RSUs, were fully vested and converted into a cash payment equal to the Merger Consideration multiplied by the number of shares. New Hire RSUs were converted into cash awards subject to service-based vesting. Prior to the merger, Avidity completed a separation and distribution, spinning off its early-stage precision cardiology programs (including AOC 1086 and AOC 1072, and collaborations with Bristol-Myers Squibb Company and Eli Lilly and Company) into a new independent publicly held company, Atrium Therapeutics, Inc. (formerly Bryce Therapeutics, Inc.). Avidity distributed one share of Atrium Therapeutics, Inc. common stock for every ten shares of Avidity common stock held as of the record date of February 12, 2026. Avidity's common stock was halted from trading on Nasdaq at 8:00 p.m. Eastern time on February 26, 2026, and will be suspended from trading on Nasdaq on March 2, 2026, with subsequent delisting and deregistration planned.