Avidity Biosciences, Inc. — Director's Dealing 2020

Jun 18, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Avidity Biosciences, Inc. (RNA)
CIK: 0001599901
Period of Report: 2020-06-16

Reporting Person: Cormorant Asset Management, LP (Former 10% Owner)
Reporting Person: Chen Bihua (Director, 10% Owner)
Reporting Person: Cormorant Global Healthcare Master Fund, LP (10% Owner)
Reporting Person: Cormorant Private Healthcare Fund II, LP (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-06-16	Common Stock	C	2214545	—	Acquired	2214545	Indirect
2020-06-16	Common Stock	P	300000	$18	Acquired	2514545	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-06-16	Series C Convertible Preferred Stock	$	C	2214545	Acquired		Common Stock (2214545)	Direct

Footnotes

F1: Shares of Series C Convertible Preferred Stock ("Series C Preferred Stock") were convertible at any time at the holder's election, without payment of additional consideration, and had no expiration date but converted automatically upon the closing of the Issuer's initial public offering.

F2: Shares reported herein are held by Cormorant Global Healthcare Master Fund, LP (the "Master Fund"), Cormorant Private Healthcare Fund II, LP (the "Fund II"), and a managed account (the "Account"). Cormorant Asset Management, LP ("Cormorant") serves as the investment manager of the Master Fund, Fund II, and the Account. Bihua Chen serves as manager of the general partner of Cormorant. Each of the Reporting Persons disclaims beneficial ownership of the shares reported herein except to the extent of its or her pecuniary interest therein, and the filing of this Form 4 shall not be construed as an admission that any of the Reporting Persons is the beneficial owner of any such shares for purposes of Section 16(a) of the Securities Exchange Act of 1934 or for any other purpose.

F3: The Series C Preferred Stock represented, on an as-converted basis (i) 419,877 shares of Common Stock held by the Master Fund, (ii) 1,762,115 shares of Common Stock held by Fund II, and (iii) 32,553 shares of Common Stock held by the Account.

F4: Shares reported herein as purchased on June 16, 2020 represent (i) 284,010 shares purchased by the Master Fund, and (ii) 15,990 shares purchased by the Account.