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.