Avidity Biosciences rises on report of Novartis buyout deal
ReutersAug 6, 2025 3:39 PM
** Shares of drug developer Avidity Biosciences RNA.O rise 17.6% to $44.99
** Swiss drugmaker Novartis NOVN.S has approached U.S. biotech Avidity with a potential takeover offer to boost its drug pipeline, the Financial Times reported
** "As a matter of policy, we do not comment on rumors or speculation" - Avidity
** Avidity has a market capitalisation of $4.61 billion, according to data compiled by LSEG
** Including session's moves, stock up ~23% YTD
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