$RNA
Avidity Biosciences, Inc. Stock $rna

$rna Overview Financials Valuation SEC Filings Company Website

2022 Q4 Form 10-Q Financial Statement

#000156459022037051 Filed on November 08, 2022

Income Statement

Concept	2022 Q4	2022 Q3	2021 Q3
Revenue	$2.769M	$2.482M	$2.163M
YoY Change	49.51%	14.75%	23.88%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin	$10.38M	$10.09M	$6.612M
YoY Change	39.74%	52.66%	75.85%
% of Gross Profit
Research & Development	$45.61M	$37.32M	$24.83M
YoY Change	38.35%	50.28%	162.48%
% of Gross Profit
Depreciation & Amortization	$381.0K	$400.0K	$200.0K
YoY Change	83.17%	100.0%	100.0%
% of Gross Profit
Operating Expenses	$55.99M	$47.41M	$31.44M
YoY Change	38.6%	50.78%	137.99%
Operating Profit		-$44.93M	-$29.28M
YoY Change		53.45%	155.36%
Interest Expense	$2.772M	$1.342M	$17.00K
YoY Change	4940.0%	7794.12%
% of Operating Profit
Other Income/Expense, Net	-$18.00K	$1.330M	-$11.00K
YoY Change	-60.87%	-12190.91%	-140.74%
Pretax Income	-$50.47M	-$43.60M	-$29.27M
YoY Change	30.96%	48.93%	155.89%
Income Tax
% Of Pretax Income
Net Earnings	-$50.47M	-$43.60M	-$29.27M
YoY Change	30.96%	48.93%	155.91%
Net Earnings / Revenue	-1822.72%	-1756.61%	-1353.4%
Basic Earnings Per Share		-$0.82	-$0.68
Diluted Earnings Per Share	-$0.88	-$0.82	-$676.6K
COMMON SHARES
Basic Shares Outstanding	54.46M	53.07M	43.27M
Diluted Shares Outstanding		53.07M	43.27M

Balance Sheet

Concept	2022 Q4	2022 Q3	2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments	$610.7M	$405.5M	$413.0M
YoY Change	50.59%	-1.81%	21.09%
Cash & Equivalents	$340.4M	$143.7M	$410.3M
Short-Term Investments	$270.3M	$261.8M	$3.016M
Other Short-Term Assets	$12.22M	$8.916M	$8.929M
YoY Change	118.2%	-0.15%	179.03%
Inventory
Prepaid Expenses	$8.340M
Receivables	$2.364M
Other Receivables
Total Short-Term Assets	$622.9M	$414.5M	$422.0M
YoY Change	51.52%	-1.78%	22.56%
LONG-TERM ASSETS
Property, Plant & Equipment	$6.254M	$6.037M	$3.220M
YoY Change	30.16%	87.48%	148.65%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets	$598.0K	$523.0K	$694.0K
YoY Change	-0.17%	-24.64%	66.43%
Total Long-Term Assets	$15.86M	$16.08M	$3.959M
YoY Change	-3.53%	306.04%	115.63%
TOTAL ASSETS
Total Short-Term Assets	$622.9M	$414.5M	$422.0M
Total Long-Term Assets	$15.86M	$16.08M	$3.959M
Total Assets	$638.8M	$430.5M	$425.9M
YoY Change	49.4%	1.09%	23.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$4.637M	$26.38M	$11.90M
YoY Change	-67.08%	121.56%	88.95%
Accrued Expenses	$14.30M	$10.84M	$6.253M
YoY Change	33.49%	73.31%	197.76%
Deferred Revenue	$5.041M	$5.454M
YoY Change	3.64%
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$51.91M	$42.67M	$22.42M
YoY Change	75.02%	90.32%	63.87%
LONG-TERM LIABILITIES
Long-Term Debt	$0.00	$0.00	$0.00
YoY Change
Other Long-Term Liabilities	$8.817M	$10.89M	$8.622M
YoY Change	-46.54%	26.32%
Total Long-Term Liabilities	$8.817M	$10.89M	$8.622M
YoY Change	-46.54%	26.32%
TOTAL LIABILITIES
Total Short-Term Liabilities	$51.91M	$42.67M	$22.42M
Total Long-Term Liabilities	$8.817M	$10.89M	$8.622M
Total Liabilities	$60.73M	$53.56M	$31.04M
YoY Change	31.58%	72.54%	19.53%
SHAREHOLDERS EQUITY
Retained Earnings	-$358.5M	-$308.1M	-$146.0M
YoY Change	94.31%	111.03%
Common Stock	$7.000K	$688.5M
YoY Change	-100.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$578.1M	$377.0M	$394.9M
YoY Change
Total Liabilities & Shareholders Equity	$638.8M	$430.5M	$425.9M
YoY Change	49.4%	1.09%	23.06%

Cashflow Statement

Concept	2022 Q4	2022 Q3	2021 Q3
OPERATING ACTIVITIES
Net Income	-$50.47M	-$43.60M	-$29.27M
YoY Change	30.96%	48.93%	155.91%
Depreciation, Depletion And Amortization	$381.0K	$400.0K	$200.0K
YoY Change	83.17%	100.0%	100.0%
Cash From Operating Activities	-$39.19M	-$31.96M	-$20.78M
YoY Change	49.49%	53.78%	128.12%
INVESTING ACTIVITIES
Capital Expenditures	$850.0K	$107.0K	-$800.0K
YoY Change	-149.79%	-113.38%	-5.88%
Acquisitions
YoY Change
Other Investing Activities	-$6.918M	$10.82M	$0.00
YoY Change	-91.6%
Cash From Investing Activities	-$7.768M	$10.93M	-$800.0K
YoY Change	-90.76%	-1466.5%	-5.88%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net			$0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	243.7M	39.62M	155.2M
YoY Change	1076.28%	-74.47%	-11680.0%
NET CHANGE
Cash From Operating Activities	-39.19M	-31.96M	-20.78M
Cash From Investing Activities	-7.768M	10.93M	-800.0K
Cash From Financing Activities	243.7M	39.62M	155.2M
Net Change In Cash	196.7M	18.59M	133.6M
YoY Change	-319.61%	-86.08%	-1282.21%
FREE CASH FLOW
Cash From Operating Activities	-$39.19M	-$31.96M	-$20.78M
Capital Expenditures	$850.0K	$107.0K	-$800.0K
Free Cash Flow	-$40.04M	-$32.07M	-$19.98M
YoY Change	63.37%	60.47%	141.91%

Facts In Submission

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	dei	Trading Symbol TradingSymbol	RNA
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	dei	Entity File Number EntityFileNumber	001-39321
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CY2022Q3	us-gaap	Stockholders Equity StockholdersEquity	376982000
CY2020Q4	us-gaap	Stockholders Equity StockholdersEquity	306223000
CY2021Q1	us-gaap	Stock Issued During Period Value Stock Options Exercised StockIssuedDuringPeriodValueStockOptionsExercised	24000
CY2021Q1	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions	10000
CY2021Q1	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	3701000
CY2021Q1	us-gaap	Net Income Loss NetIncomeLoss	-23844000
CY2021Q1	us-gaap	Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax	2000
CY2021Q2	us-gaap	Stock Issued During Period Value Stock Options Exercised StockIssuedDuringPeriodValueStockOptionsExercised	98000
CY2021Q2	us-gaap	Stock Issued During Period Value Employee Stock Purchase Plan StockIssuedDuringPeriodValueEmployeeStockPurchasePlan	318000
CY2021Q2	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions	9000
CY2021Q2	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	4289000
CY2021Q2	us-gaap	Net Income Loss NetIncomeLoss	-26353000
CY2021Q2	us-gaap	Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax	3000
CY2021Q2	us-gaap	Stockholders Equity StockholdersEquity	264480000
CY2021Q3	us-gaap	Stock Issued During Period Value Stock Options Exercised StockIssuedDuringPeriodValueStockOptionsExercised	34000
CY2021Q3	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions	6000
CY2021Q3	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	4550000
CY2021Q3	us-gaap	Net Income Loss NetIncomeLoss	-29274000
CY2021Q3	us-gaap	Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax	-1000
CY2021Q3	us-gaap	Stockholders Equity StockholdersEquity	394877000
	us-gaap	Profit Loss ProfitLoss	-123524000
	us-gaap	Profit Loss ProfitLoss	-79471000
	us-gaap	Depreciation Depreciation	1006000
	us-gaap	Depreciation Depreciation	431000
	us-gaap	Share Based Compensation ShareBasedCompensation	19832000
	us-gaap	Share Based Compensation ShareBasedCompensation	12540000
	us-gaap	Accretion Amortization Of Discounts And Premiums Investments AccretionAmortizationOfDiscountsAndPremiumsInvestments	-184000
	rna	Increase Decrease In Operating Lease Right Of Use Assets And Liabilities Net IncreaseDecreaseInOperatingLeaseRightOfUseAssetsAndLiabilitiesNet	1066000
	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	3869000
	us-gaap	Increase Decrease In Employee Related Liabilities IncreaseDecreaseInEmployeeRelatedLiabilities	-1193000
	us-gaap	Increase Decrease In Employee Related Liabilities IncreaseDecreaseInEmployeeRelatedLiabilities	3001000
	us-gaap	Accretion Amortization Of Discounts And Premiums Investments AccretionAmortizationOfDiscountsAndPremiumsInvestments	-87000
	us-gaap	Gain Loss On Sale Of Property Plant Equipment GainLossOnSaleOfPropertyPlantEquipment	0
	us-gaap	Gain Loss On Sale Of Property Plant Equipment GainLossOnSaleOfPropertyPlantEquipment	16000
	rna	Increase Decrease In Operating Lease Right Of Use Assets And Liabilities Net IncreaseDecreaseInOperatingLeaseRightOfUseAssetsAndLiabilitiesNet	449000
	us-gaap	Increase Decrease In Deferred Revenue IncreaseDecreaseInDeferredRevenue	-3236000
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-97079000
	us-gaap	Proceeds From Sale And Maturity Of Marketable Securities ProceedsFromSaleAndMaturityOfMarketableSecurities	85975000
	us-gaap	Payments To Acquire Marketable Securities PaymentsToAcquireMarketableSecurities	266189000
	us-gaap	Payments To Acquire Marketable Securities PaymentsToAcquireMarketableSecurities	0
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	1973000
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	2033000
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	1547000
	rna	Proceeds From Issuance Of Common Stock In Public Offering Gross ProceedsFromIssuanceOfCommonStockInPublicOfferingGross	104846000
	rna	Proceeds From Issuance Of Common Stock In Public Offering Gross ProceedsFromIssuanceOfCommonStockInPublicOfferingGross	165600000
	us-gaap	Payments Of Stock Issuance Costs PaymentsOfStockIssuanceCosts	10399000
	us-gaap	Proceeds From Stock Plans ProceedsFromStockPlans	499000
	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	317000
	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	156000
	us-gaap	Payments Of Financing Costs PaymentsOfFinancingCosts	0
	us-gaap	Payments Of Financing Costs PaymentsOfFinancingCosts	73000
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	102517000
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	155602000
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-176749000
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	88551000
CY2021Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	320699000
CY2020Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	321713000
CY2022Q3	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	143950000
	rna	Costs Incurred But Not Paid In Connection With Public Offering Included In Accounts Payable And Accrued Liabilities CostsIncurredButNotPaidInConnectionWithPublicOfferingIncludedInAccountsPayableAndAccruedLiabilities	0
	rna	Costs Incurred But Not Paid In Connection With Public Offering Included In Accounts Payable And Accrued Liabilities CostsIncurredButNotPaidInConnectionWithPublicOfferingIncludedInAccountsPayableAndAccruedLiabilities	119000
	rna	Deferred Financing Costs Incurred But Not Yet Paid Included In Accounts Payable And Accrued Liabilities DeferredFinancingCostsIncurredButNotYetPaidIncludedInAccountsPayableAndAccruedLiabilities	0
	rna	Deferred Financing Costs Incurred But Not Yet Paid Included In Accounts Payable And Accrued Liabilities DeferredFinancingCostsIncurredButNotYetPaidIncludedInAccountsPayableAndAccruedLiabilities	61000
	us-gaap	Capital Expenditures Incurred But Not Yet Paid CapitalExpendituresIncurredButNotYetPaid	485000
	us-gaap	Capital Expenditures Incurred But Not Yet Paid CapitalExpendituresIncurredButNotYetPaid	134000
CY2022Q3	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-308100000
CY2022Q3	us-gaap	Cash Cash Equivalents And Short Term Investments CashCashEquivalentsAndShortTermInvestments	405500000
CY2022Q3	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	8185000
	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice	15.42
	us-gaap	Stock Issued During Period Shares Stock Options Exercised StockIssuedDuringPeriodSharesStockOptionsExercised	282000
	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice	1.12
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod	443000
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice	16.60
CY2022Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	9093000
CY2022Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	15.22
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue	11.08
	us-gaap	Use Of Estimates UseOfEstimates	<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Arial;font-size:10pt;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:3.4%;font-size:10pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company’s condensed financial statements<span style="letter-spacing:-0.45pt;"> </span>are<span style="letter-spacing:-0.35pt;"> </span>prepared<span style="letter-spacing:-0.2pt;"> </span>in<span style="letter-spacing:-0.15pt;"> </span><span style="letter-spacing:0.1pt;">accordance</span><span style="letter-spacing:-0.35pt;"> </span>with<span style="letter-spacing:-0.15pt;"> GAAP, which</span><span style="letter-spacing:-0.45pt;"> </span>requires<span style="letter-spacing:-0.5pt;"> the Company </span>to<span style="letter-spacing:-0.2pt;"> </span>make<span style="letter-spacing:-0.3pt;"> </span>estimates <span style="letter-spacing:0.1pt;">and assumptions </span><span style="letter-spacing:0.15pt;">that </span><span style="letter-spacing:0.1pt;">impact </span><span style="letter-spacing:0.15pt;">the </span>reported <span style="letter-spacing:0.15pt;">amounts of </span>assets, <span style="letter-spacing:0.15pt;">liabilities, </span><span style="letter-spacing:0.1pt;">revenues and expenses and </span><span style="letter-spacing:0.15pt;">the </span><span style="letter-spacing:0.1pt;">disclosure </span><span style="letter-spacing:0.15pt;">of </span><span style="letter-spacing:0.2pt;">contingent </span>assets <span style="letter-spacing:0.1pt;">and </span><span style="letter-spacing:0.15pt;">liabilities in the condensed financial statements and accompanying notes. The most significant estimates in the Company’s condensed financial statements </span>relate <span style="letter-spacing:0.1pt;">to</span> revenue recognition, stock-based compensation, and accrued research and development costs. <span style="letter-spacing:0.15pt;">Although </span><span style="letter-spacing:0.1pt;">these </span>estimates are based <span style="letter-spacing:0.15pt;">on the </span><span style="letter-spacing:0.1pt;">Company’s</span><span style="letter-spacing:-0.45pt;"> </span><span style="letter-spacing:0.15pt;">knowledge</span><span style="letter-spacing:-0.3pt;"> </span><span style="letter-spacing:0.15pt;">of</span><span style="letter-spacing:-0.65pt;"> </span>current<span style="letter-spacing:-0.2pt;"> </span><span style="letter-spacing:0.15pt;">events</span><span style="letter-spacing:-0.45pt;"> </span><span style="letter-spacing:0.1pt;">and</span><span style="letter-spacing:-0.1pt;"> </span><span style="letter-spacing:0.15pt;">actions</span><span style="letter-spacing:-0.45pt;"> </span>it<span style="letter-spacing:-0.2pt;"> </span>may<span style="letter-spacing:-0.15pt;"> </span><span style="letter-spacing:0.15pt;">undertake</span><span style="letter-spacing:-0.3pt;"> </span>in<span style="letter-spacing:-0.1pt;"> </span><span style="letter-spacing:0.15pt;">the</span><span style="letter-spacing:-0.3pt;"> </span>future,<span style="letter-spacing:-0.6pt;"> </span><span style="letter-spacing:0.1pt;">actual</span><span style="letter-spacing:-0.2pt;"> </span>results<span style="letter-spacing:-0.45pt;"> </span>may<span style="letter-spacing:-0.1pt;"> </span><span style="letter-spacing:0.1pt;">ultimately</span><span style="letter-spacing:-0.15pt;"> </span>materially<span style="letter-spacing:-0.1pt;"> </span>differ<span style="letter-spacing:-0.65pt;"> </span>from<span style="letter-spacing:-0.45pt;"> </span><span style="letter-spacing:0.1pt;">these</span><span style="letter-spacing:-0.3pt;"> </span>estimates <span style="letter-spacing:0.1pt;">and</span><span style="letter-spacing:0.05pt;"> </span><span style="letter-spacing:0.1pt;">assumptions.</span></p>
	us-gaap	Debt Securities Available For Sale Realized Gain Loss DebtSecuritiesAvailableForSaleRealizedGainLoss	0
	us-gaap	Other Than Temporary Impairment Loss Debt Securities Available For Sale OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSale	0
	us-gaap	Concentration Risk Credit Risk ConcentrationRiskCreditRisk	<p style="text-align:justify;margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Arial;text-transform:none;font-variant: normal;">Concentration of Credit Risk</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:3.4%;font-size:10pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash, cash equivalents and marketable securities. The Company maintains deposits in federally insured financial institutions in excess of federally insured limits. The Company has not experienced any losses in such accounts and believes it is not exposed to significant risk on its cash balances due to the financial position of the depository institutions in which those deposits are held. Additionally, the Company has established guidelines regarding approved investments, credit quality, diversification, liquidity and maturities of investments, which are designed to maintain safety and liquidity.</p>
CY2022Q3	rna	Fair Value Assets Level1 To Level2 Transfer Amount FairValueAssetsLevel1ToLevel2TransferAmount	0
CY2022Q3	rna	Fair Value Assets Level2 To Level1 Transfer Amount FairValueAssetsLevel2ToLevel1TransferAmount	0
	us-gaap	Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3 FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersIntoLevel3	0
	us-gaap	Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3 FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3	0
CY2022Q3	rna	Fair Value Liabilities Level1 To Level2 Transfer Amount FairValueLiabilitiesLevel1ToLevel2TransferAmount	0
CY2022Q3	rna	Fair Value Liabilities Level2 To Level1 Transfer Amount FairValueLiabilitiesLevel2ToLevel1TransferAmount	0
	us-gaap	Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Into Level3 FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersIntoLevel3	0
	us-gaap	Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Out Of Level3 FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersOutOfLevel3	0
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue	16.83
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate	0.85
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate	0
	rna	Maximum Milestone Payment To Acquire Contractual Rights MaximumMilestonePaymentToAcquireContractualRights	8500000
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate	0
CY2021Q4	us-gaap	Available For Sale Securities Debt Securities AvailableForSaleSecuritiesDebtSecurities	85095000
CY2022Q3	us-gaap	Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax	3500000
CY2022Q3	us-gaap	Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation	8936
CY2021Q3	us-gaap	Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation	22158
	us-gaap	Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation	11435
	us-gaap	Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation	39345
	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	9128000
	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	5679000
CY2022Q3	us-gaap	Available For Sale Debt Securities Amortized Cost Basis AvailableForSaleDebtSecuritiesAmortizedCostBasis	265312000
CY2022Q3	us-gaap	Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax	0
CY2022Q3	us-gaap	Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax	3463000
CY2022Q3	us-gaap	Available For Sale Securities Debt Securities AvailableForSaleSecuritiesDebtSecurities	261849000
CY2021Q4	us-gaap	Available For Sale Debt Securities Amortized Cost Basis AvailableForSaleDebtSecuritiesAmortizedCostBasis	85282000
CY2021Q4	us-gaap	Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax	0
CY2021Q4	us-gaap	Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax	187000
CY2022Q3	us-gaap	Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger	0
CY2022Q3	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	8776000
CY2021Q4	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	6538000
CY2022Q3	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	2739000
CY2021Q4	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	1733000
CY2022Q3	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	6037000
CY2021Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	4805000
CY2022Q3	us-gaap	Depreciation Depreciation	400000
CY2021Q3	us-gaap	Depreciation Depreciation	200000
	us-gaap	Depreciation Depreciation	1000000.0
	us-gaap	Depreciation Depreciation	400000
	us-gaap	Lessee Operating Lease Description LesseeOperatingLeaseDescription	During the periods presented, the Company was party to various non-cancellable office and laboratory space operating leases and short-term leases. Under the relevant guidance, the Company recognizes operating lease right-of-use (ROU) assets and liabilities based on the present value of the future minimum lease payments over the lease term at the commencement date, using the Company’s assumed incremental borrowing rate, and amortizes the ROU assets and liabilities over the lease term. Lease expense for operating leases is recognized on a straight-line basis over the lease term. Short-term leases are not subject to recognition of an ROU asset or liability or straight-line lease expense requirements.
CY2022Q3	us-gaap	Lessee Operating Lease Liability Payments Remainder Of Fiscal Year LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear	767000
CY2022Q3	us-gaap	Lessee Operating Lease Liability Payments Due Next Twelve Months LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths	3113000
CY2022Q3	us-gaap	Lessee Operating Lease Liability Payments Due Year Two LesseeOperatingLeaseLiabilityPaymentsDueYearTwo	3207000
CY2022Q3	us-gaap	Lessee Operating Lease Liability Payments Due Year Three LesseeOperatingLeaseLiabilityPaymentsDueYearThree	3303000
CY2022Q3	us-gaap	Lessee Operating Lease Liability Payments Due Year Four LesseeOperatingLeaseLiabilityPaymentsDueYearFour	3111000
CY2022Q3	us-gaap	Lessee Operating Lease Liability Payments Due LesseeOperatingLeaseLiabilityPaymentsDue	13501000
CY2022Q3	us-gaap	Lessee Operating Lease Liability Undiscounted Excess Amount LesseeOperatingLeaseLiabilityUndiscountedExcessAmount	2226000
CY2022Q3	us-gaap	Operating Lease Liability OperatingLeaseLiability	11275000
CY2022Q3	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	3090000
	us-gaap	Operating Lease Payments OperatingLeasePayments	1002000
	us-gaap	Operating Lease Payments OperatingLeasePayments	0
CY2022Q3	us-gaap	Operating Lease Expense OperatingLeaseExpense	689000
CY2021Q3	us-gaap	Operating Lease Expense OperatingLeaseExpense	150000
	us-gaap	Operating Lease Expense OperatingLeaseExpense	2068000
	us-gaap	Operating Lease Expense OperatingLeaseExpense	449000
CY2022Q3	rna	Short Term Lease Rent Expense ShortTermLeaseRentExpense	26000
CY2021Q3	rna	Short Term Lease Rent Expense ShortTermLeaseRentExpense	78000
	rna	Short Term Lease Rent Expense ShortTermLeaseRentExpense	26000
	rna	Short Term Lease Rent Expense ShortTermLeaseRentExpense	159000
CY2022Q3	rna	Lease Rent Expense LeaseRentExpense	715000
CY2021Q3	rna	Lease Rent Expense LeaseRentExpense	228000
	rna	Lease Rent Expense LeaseRentExpense	2094000
	rna	Lease Rent Expense LeaseRentExpense	608000
CY2022Q3	us-gaap	Loss Contingency Accrual At Carrying Value LossContingencyAccrualAtCarryingValue	0
CY2020Q2	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	400000000
CY2020Q2	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	40000000
CY2020Q2	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.0001
CY2020Q2	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.0001
CY2022Q3	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0
CY2021Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0
CY2021Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	5778000
CY2021Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	14.49
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross	4040000
CY2022Q3	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	7086000
CY2021Q3	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	4550000
	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	19832000
	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	12540000

Files In Submission

Name	View Source	Status
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0001564590-22-037051-index.html	Edgar Link	pending
0001564590-22-037051.txt	Edgar Link	pending
0001564590-22-037051-xbrl.zip	Edgar Link	pending
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$RNA
Avidity Biosciences, Inc. Stock $rna

2022 Q4 Form 10-Q Financial Statement

#000156459022037051 Filed on November 08, 2022

Income Statement

Balance Sheet

Cashflow Statement

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$RNA Avidity Biosciences, Inc. Stock $rna

2022 Q4 Form 10-Q Financial Statement

#000156459022037051 Filed on November 08, 2022

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$RNA
Avidity Biosciences, Inc. Stock $rna