Avidity Biosciences is a biotechnology company pioneering Antibody Oligonucleotide Conjugates (AOCs™) designed to combine the specificity of monoclonal antibodies with the precision of oligonucleotide therapeutics to target previously untreatable genetic muscle disorders. Founded in 2012 and headquartered in San Diego, California, Avidity was acquired by Novartis AG in early 2026 for approximately $12 billion to strengthen Novartis' late-stage neuroscience and RNA medicines pipeline. In late 2026, following a $1.9 billion impairment charge recorded by parent company Novartis on lead Phase 3 myotonic dystrophy type 1 (DM1) candidate del-desiran (AOC 1001), Avidity filed a California WARN Act notice eliminating 40 positions (~8% of workforce) across clinical operations, medical writing, and regulatory affairs on a rolling basis beginning December 31, 2026.
Effective start date for rolling WARN Act workforce reduction eliminating 40 positions in San Diego
Avidity Biosciences, operating as a wholly owned subsidiary of Novartis following its $12 billion acquisition, filed a California WARN Act notice disclosing the permanent termination of 40 employees (~8% of its 511-person workforce) on a rolling basis beginning December 31, 2026. The job cuts primarily impact on-site clinical research, clinical operations, medical writing, and regulatory affairs personnel at its San Diego facility (along with seven remote positions), following a $1.9 billion impairment charge recorded by parent Novartis against lead Phase 3 myotonic dystrophy candidate del-desiran (AOC 1001).
Avidity Biosciences filed a California WARN Act notice disclosing permanent layoffs for 40 employees (~8% of staff) in San Diego on a rolling basis beginning December 31, 2026, following parent Novartis' $1.9B impairment charge on lead DM1 asset del-desiran.
President and Chief Executive Officer (prior to Novartis acquisition)
Chief Medical Officer
Chief Technical Officer
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