Novartis announced that it will acquire Avidity Biosciences for $72 per share in cash, valuing the company at roughly $12 billion. As part of the transaction, Avidity’s early‑stage precision cardiology programs will be spun off into a new public company, SpinCo, and Avidity shareholders will receive one SpinCo share for every ten Avidity shares they own. The board has set February 12, 2026 as the record date for the pro‑rata distribution of SpinCo shares.
The acquisition terms were disclosed in a definitive proxy statement filed with the SEC on January 30, 2026. The deal is expected to close in the first half of 2026, subject to customary closing conditions, including Avidity stockholder approval and regulatory clearance. The spin‑off of the cardiology programs into SpinCo is a strategic move that allows Novartis to concentrate on its neuromuscular pipeline while Avidity’s Antibody Oligonucleotide Conjugate (AOC) platform remains a core asset for the combined company.
Novartis’s focus on neuromuscular disease is reinforced by the acquisition of Avidity’s late‑stage RNA programs, including a Duchenne muscular dystrophy candidate slated for a BLA filing in early 2026. The AOC platform, which couples antibody specificity with oligonucleotide delivery, is a key technology that aligns with Novartis’s cross‑RNA strategy. By separating the early‑stage cardiology assets, Novartis can streamline its portfolio and avoid dilution of its neuroscience focus.
The February 12 record date is a critical milestone in the transaction timeline. It determines which Avidity shareholders are eligible to receive SpinCo shares and is a prerequisite for the final distribution of the new shares. The record date also signals that the spin‑off and acquisition are progressing toward completion, providing investors with a concrete step in the path to closing.
The announcement was made on February 3, 2026, and the record date itself is set for February 12, 2026. The transaction is expected to close in the first half of 2026, and the spin‑off will create a new public company focused on precision cardiology, while Novartis consolidates its neuromuscular and RNA therapeutic capabilities.
The content on EveryTicker is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.