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Avidity shares fall 23% after announcing partial clinical hold for myotonic dystrophy trial

Avidity shares fall 23% after announcing partial clinical hold for myotonic dystrophy trial

Shares of Avidity Biosciences Inc. tumbled 23.7% in premarket trading on Tuesday after the company said the Food and Drug Administration placed a partial clinical hold on new enrollment in a Phase 1/2 clinical trial trial evaluating a new treatment for myotonic dystrophy type 1, a progressive neuromuscular disease. Avidity said the partial hold is the result of a serious adverse event reported in one patient. The adverse event "driving the partial hold is currently undisclosed, but we think it i