Avidity Biosciences Expands Corporate Headquarters Under Amended Sublease with Turning Point Therapeutics

Avidity Biosciences, Inc. has exercised its option to expand its future corporate headquarters by leasing an additional 80,000 square feet under an amended sublease agreement with Turning Point Therapeutics. The new space, secured through a First Amendment to the original April 2024 agreement, brings the total term to approximately nine years and one month, with occupancy payments beginning in April 2026.

The company’s total future financial commitment for the expanded space is approximately $53.7 million, which includes a 3% annual rent increase and agreed-upon rent abatement terms. As part of the agreement, the sublandlord will provide a tenant improvement allowance of up to $19.9 million.

Avidity Biosciences Expands Corporate Headquarters with Sublease Amendment

Avidity Biosciences has amended its sublease agreement with Turning Point Therapeutics to add 80,000 rentable square feet of additional space, which will be part of its future corporate headquarters. The amended term for the additional space is approximately 9 years and 1 month, with lease payments beginning in April 2026.

The company’s total future commitments for the new space are estimated at $53.7 million, which includes a 3% annual rent increase and agreed rent abatements. Turning Point Therapeutics will provide a tenant improvement allowance of up to $19.9 million.

Avidity plans to include the full amendment in its upcoming Q1 2025 Form 10-Q filing.

Avidity Biosciences, Inc. has announced topline results from its Phase 1/2 EXPLORE44 trial of delpacibart zotadirsen (del-zota) for treating Duchenne muscular dystrophy amenable to exon 44 skipping (DMD44). The data demonstrated successful delivery of phosphorodiamidate morpholino oligomers (PMOs) to skeletal muscle, increased exon 44 skipping, improved dystrophin production, and reduced creatine kinase levels.

The trial results also indicate favorable safety and tolerability, supporting further development. Avidity has selected a 5 mg/kg dosage every six weeks for ongoing and future studies, with plans to submit a Biologics License Application (BLA) by the end of 2025. The company continues to pursue an accelerated approval path in the United States.