Avidity Biosciences, Inc. 8-K

What Happened

• On February 2, 2026, Avidity Biosciences, Inc. issued a press release (filed on Form 8-K) announcing an expected record date of February 12, 2026 for the pro rata distribution of all issued and outstanding shares of Atrium Therapeutics, Inc. (“SpinCo”) to holders of Avidity common stock as of that date.
• The distribution is part of the previously announced plan tied to the proposed acquisition (Merger) of Avidity by Novartis AG and the separation of Avidity’s early‑stage precision cardiology programs into SpinCo. The press release was furnished under Regulation FD disclosure.

Key Details

• Record Date: February 12, 2026 (expected).
• Distribution: Pro rata distribution of all issued and outstanding common shares of Atrium Therapeutics, Inc. (SpinCo) to Avidity common stockholders of record.
• Context: Action is connected to the proposed Merger with Novartis AG and the spin-off of Avidity’s early‑stage cardiology programs.
• Filing: Press release dated February 2, 2026 was attached to the 8-K (Exhibit 99.1) and includes standard forward‑looking statements and risk disclosures.

Why It Matters

• For Avidity shareholders, the record date determines who will receive SpinCo shares if the separation proceeds as planned; being a holder of record on that date is necessary to participate in the distribution.
• The distribution and spin-off are key steps in the broader transaction with Novartis and could change the composition of assets and securities held by Avidity investors; however, the filing makes clear that completion and timing depend on customary closing conditions and regulatory and shareholder approvals, and there is no guarantee the Transactions will close as expected.