Better Health for All

Avidity Biosciences' entire business is devoted to developing a new class of RNA therapeutics (AOCs) for rare, serious, and often fatal diseases such as myotonic dystrophy type 1 (DM1), Duchenne muscular dystrophy (DMD), facioscapulohumeral muscular dystrophy (FSHD), and rare genetic cardiomyopathies, which currently have limited or no treatment options.

These therapies are designed to address the root cause of diseases previously untreatable with existing RNA therapies. However, the company received a partial clinical hold related to del-desiran™. The company focuses on rare diseases, including those affecting children, and acknowledges the underrepresentation of Black, Indigenous, and people of color (BIPOC) and LGBTQ+ communities in clinical trials. They have identified several feasible initiatives to improve diversity, such as DEI training for research teams and inclusive demographic collection. Avidity Biosciences is investing significantly in R&D, with a public offering to raise $600.0 million to advance its clinical programs and AOC platform. The company provides comprehensive risk disclosures for its clinical trials, which are randomized, placebo-controlled, and double-blind, with information available on clinicaltrials.gov. They offer comprehensive and competitive packages to support employee health and well-being, including medical, dental, vision plans, and an Employee Assistance Program (EAP) for mental health and substance abuse. During public health emergencies, the company acknowledges potential disruptions but has not detailed specific crisis response actions beyond general awareness efforts. They also provide educational assistance up to $5,000 annually and internal/external training programs for employees.

Fair Money & Economic Opportunity

Avidity Biosciences is a biopharmaceutical company focused on the discovery and development of RNA therapeutics.

Its core business involves pharmaceutical research and development, clinical trials, and potential future manufacturing and commercialization of drugs. The company does not offer lending, insurance, or deposit services to consumers, nor does it manage customer financial data or provide financial products. Therefore, all KPIs under the 'Fair Money & Economic Opportunity' value are not applicable to its operations, as they are designed to assess financial institutions and their direct impact on economic opportunity through financial services. While the company engages in diversity, equity, and inclusion initiatives related to its workforce and clinical trial participation, and offers employee benefits such as an Employee Stock Purchase Program and 401(k) matching, these do not fall under the scope of the 'Fair Money & Economic Opportunity' value, which specifically pertains to financial services for consumers.

Fair Pay & Worker Respect

For Fiscal Year 2024, Avidity Biosciences reported a CEO to median employee pay ratio of 48:1, with the CEO earning $14,176,480 and the median employee earning $297,345.

The company covers 100% of health care premiums for its employees and 90% for dependents, offering medical, vision, dental, and prescription plans. Additionally, Avidity Biosciences provides a dollar-for-dollar 401(k) match up to 4%, an annual HSA contribution of $2,000 for employees and $4,000 for those with dependents, and an Employee Stock Purchase Program (ESPP). Employees receive four weeks of vacation, plus holiday breaks including a week-long summer break and an end-of-year shutdown, and up to $5,000 annually for educational assistance.

Honest & Fair Business

Avidity Biosciences has a Code of Conduct and Ethics that encourages honest and ethical conduct, full disclosure, and compliance with laws.

The company provides a confidential Ethics Hotline, available 24 hours a day, 7 days a week, and prohibits retaliation against employees or directors who report suspected violations in good faith. However, there is no evidence detailing independent investigation processes for these reports. The Code of Conduct encourages directors to avoid conflicts of interest and disclose any potential conflicts, but a specific percentage of board members free from material conflicts is not provided. The company's anti-corruption policy is FCPA-compliant and prohibits bribery, but information on the frequency or effectiveness of related training is not available.

Kind to Animals

Avidity Biosciences conducts preclinical studies on animals to assess product safety and efficacy.

The company's 10-K filing explicitly states that preclinical tests include animal studies to support clinical testing. Animal studies have been conducted for up to nine months. The company uses 15,000–25,000 animals per year, with early screening efforts observing a 95% reduction of target gene expression in mouse skeletal muscle.

Planet-Friendly Business

No specific, quantifiable evidence was found in the provided articles to assess Avidity Biosciences, Inc. against the defined KPIs for Planet-Friendly Business. While one article mentions the company's commitment to environmental protection and compliance with health, safety, and environmental laws, these are policy statements and not concrete data points or outcomes that can be scored against the rubric's quantitative thresholds.

General ESG or CSA scores are not specific KPI metrics and cannot be used for scoring individual KPIs.

Respect for Cultures & Communities

Avidity Biosciences has established 10 formal partnerships with patient advocacy groups and local community organizations, including the Myotonic Dystrophy Foundation, FSHD Society, Jett Foundation, Global Genes, Global Alliance for Myotonic Dystrophy Awareness, Life Science Cares San Diego, Monarch School, local colleges and universities, and community hospitals.

This number falls within the 10-15 partnerships tier. The company actively supports language inclusivity by advocating for and providing translated materials in Spanish and other languages for clinical trial patients, and has waived fees for hospital-based translation software and provided translation tablets to units. This demonstrates strong local language support.

Safe & Smart Tech

The company has not identified any material cybersecurity incidents that have affected its operations, business strategy, results of operations, or financial condition.

Its Code of Conduct and Ethics prohibits covered parties from using confidential information for personal gain. Avidity Biosciences states it will fully comply with internationally recognized standards of data protection and applicable laws, rules, and regulations, and designs its cybersecurity program based on the National Institute of Standards and Technology Cybersecurity Framework (NIST CSF). The company conducts annual external and internal penetration tests and provides 24-hour monitoring of networks and cloud resources. It retains personal data to address medical information inquiries and for legal obligations, but also collects data 'just in case' it might be useful, and retains most data for 3-5 years.

Zero Waste & Sustainable Products

No specific, quantifiable data points or concrete actions related to waste management, product sustainability, or circular economy principles were found across the provided articles. Information available primarily consists of general commitments, policies, and goals, such as a commitment to managing waste responsibly, identifying recyclables, and setting goals for composting food waste and converting medical waste into energy.

However, these statements do not provide measurable outcomes, percentages, or specific details required to score any of the defined KPIs.