As filed with the Securities and Exchange Commission on February 29, 2024
Registration No. 333-
 
 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
 
FORM S-8 
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
 
 
AVIDITY BIOSCIENCES, INC.
(Exact name of registrant as specified in its charter)
 
Delaware 46-1336960
(State or Other Jurisdiction of
Incorporation or Organization)
 
(I.R.S. Employer
Identification No.)
 
10578 Science Center Drive, Suite 125
San Diego, California 92121
(858) 401-7900 
(Address of Principal Executive Offices)
 
AVIDITY BIOSCIENCES, INC. 2020 INCENTIVE AWARD PLAN

(Full Title of the Plans)
 
Sarah Boyce
President and Chief Executive Officer
Avidity Biosciences, Inc.
10578 Science Center Drive, Suite 125
San Diego, California 92121
(858) 401-7900 
(Name, Address and Telephone Number, Including Area Code, of Agent for Service)
 


Copies to:
Cheston J. Larson
Matthew T. Bush
Latham & Watkins LLP
12670 High Bluff Drive
San Diego, California 92130
(858) 523-5400 
 
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
 
Large accelerated filer ☒ Accelerated filer ☐
Non-accelerated filer ☐ Smaller reporting company ☐
  Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐
 
 
 

EXPLANATORY NOTE
This registration statement registers the offer and sale of an additional 3,963,742 shares of common stock, par value $0.0001 per share, of Avidity Biosciences, Inc. for issuance under the 2020 Incentive Award Plan (the “2020 Plan”). In accordance with Instruction E to Form S-8, the contents of the prior registration statements on Form S-8, (i) File No. 333-279033, filed with the Securities and Exchange Commission (“SEC”) on December 21, 2022, (ii) File No. 333- 264841, filed with the SEC on May 10, 2022 and (iii) File No. 333-239148, filed with the SEC on June 12, 2020, in each case previously filed with respect to the 2020 Plan, are hereby incorporated by reference herein.
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
The documents containing the information specified in Part I of Form S-8 will be sent or given to participants in the 2020 Plan as specified by Rule 428(b)(1) of the Securities Act. These documents and the documents incorporated by reference into this registration statement pursuant to Item 3 of Part II of this registration statement, taken together, constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
In this registration statement, Avidity Biosciences, Inc. is sometimes referred to as “registrant,” “we,” “us” or “our.”
Item 3. Incorporation of Documents by Reference.
The Securities and Exchange Commission (“SEC”) allows us to “incorporate by reference” certain information we file with them, which means that we can disclose important information to you by referring you to those documents. The information incorporated by reference is considered to be part of this registration statement,


and later information filed with the SEC will update and supersede this information. We hereby incorporate by reference into this registration statement the following documents previously filed with the SEC:

•    our Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC on February 28, 2024;
•    our Definitive Proxy Statement on Schedule 14A filed with the SEC on April 28, 2023 (solely to the extent specifically incorporated by reference into our Annual Report on Form 10-K for the fiscal year ended December 31, 2022);
•    our Current Report on Form 8-K filed with the SEC on January 5, 2024; and
•    the description of our common stock contained in our registration statement on Form 8-A, filed with the SEC on June 9, 2020, as updated by Exhibit 4.3 to our Annual Report on Form 10-K for the year ended December 31, 2020, and any amendment or report filed with the SEC for the purpose of updating the description.
     In addition, all documents filed by the registrant pursuant to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act, subsequent to the filing of this registration statement and prior to the filing of a post-effective amendment which indicates that all securities offered hereby have been sold or which de-registers all securities then remaining unsold, shall be deemed to be incorporated by reference into this registration statement and to be a part hereof from the date of filing such documents, except as to specific sections of such statements as set forth therein. Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this registration statement to the extent that a statement contained herein or in any other subsequently filed document which also is incorporated or deemed to be incorporated by reference herein modifies or supersedes such statement. Any statement contained herein shall be deemed to be modified or superseded for purposes of this registration statement to the extent that a statement contained in any subsequently filed document which also is incorporated or deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this registration statement.
Under no circumstances shall any information furnished under Items 2.02 or 7.01 of Form 8-K be deemed incorporated herein by reference unless such Form 8-K expressly provides for such incorporation by reference.




Item 8. Exhibits.  
Exhibit
Number
   Incorporated by Reference Filed
Herewith
 Exhibit Description Form File No.Exhibit Filing Date
3.1  8-K 001-393213.1 6/16/2020 
3.2  8-K 001-393213.1 12/13/2023 
4.1  S-1 333-2386124.1 5/22/2020 
5.1     X
10.1  10-K 

001-39321 
10.2 2/28/2024 
23.1     X
23.2     X
24.1     X
107     X

 
 
SIGNATURES
Pursuant to the requirements of the Securities Act, the registrant certifies that it has reasonable grounds to believe that the registrant meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of San Diego, State of California, on February 29, 2024.
 
AVIDITY BIOSCIENCES, INC.
By:/s/ Sarah Boyce
Sarah Boyce
President and Chief Executive Officer
Each person whose signature appears below hereby constitutes and appoints Sarah Boyce and Michael F. MacLean, jointly and severally, his or her attorneys-in-fact, each with the full power of substitution, for him or her in any and all capacities, to sign this registration statement, and any amendments thereto (including post-effective amendments), and to file the same, with all exhibits thereto and other documents in connection therewith, with the SEC, hereby ratifying and confirming all that each of said attorneys-in-fact, or his or her substitute or substitutes, may do or cause to be done by virtue hereof. Pursuant to the requirements of the Securities Act, this registration statement has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
 


Signature Title Date
/s/ Sarah Boyce
Sarah Boyce
 
President, Chief Executive Officer and Director
(Principal Executive Officer)
 February 29, 2024
/s/ Michael F. MacLean
Michael F. MacLean
 
Chief Financial and Chief Business Officer
(Principal Financial and Accounting Officer)
 February 29, 2024
/s/ Troy Wilson
Troy Wilson, Ph.D., J.D.
 Chair of the Board of Directors February 29, 2024
/s/ Carsten Boess
Carsten Boess
 Director February 29, 2024
/s/ Noreen Henig
Noreen Henig, M.D.
 Director February 29, 2024
/s/ Edward Kaye
Edward Kaye, M.D.
 Director February 29, 2024
/s/ Jean Kim
Jean Kim
 Director February 29, 2024
/s/ Arthur A. Levin
Arthur A. Levin
 Director February 29, 2024
/s/ Tamar Thompson
Tamar Thompson
 Director February 29, 2024
 


Exhibit 107
Calculation of Filing Fee Tables
Form S-8
(Form Type)
Avidity Biosciences, Inc.
(Exact Name of Registrant as Specified in its Charter)
Table 1: Newly Registered Securities
PlanSecurity
Type		Security Class TitleFee Calculation
Rule
Amount
Registered(1)
Proposed
Maximum
Offering
Price Per
Unit		Maximum
Aggregate Offering
Price		Fee RateAmount of
Registration
Fee
2020 Incentive Award PlanEquityCommon Stock, $0.0001 par value per shareRule 457(c)
and 457(h)		3,963,742 shares (2)$14.15$56,086,949.300.0001476$8,278
Total Offering Amounts$56,086,949.30-
Total Fee Offsets-
Net Fee Due$8,278

(1)In accordance with Rule 416(a) under the Securities Act of 1933, as amended (“Securities Act”), this registration statement shall be deemed to cover any additional securities that may from time to time be offered or issued under the registrant’s 2020 Incentive Award Plan (the “2020 Plan”) to prevent dilution resulting from stock splits, stock dividends or similar transactions. In addition, pursuant to Rule 416(c) under the Securities Act, this registration statement also covers an indeterminate amount of interests to be offered or sold pursuant to the 2020 Plan.
(2)Represents 3,963,742 shares of common stock available for future issuance (or that may become available for issuance) under the 2020 Plan.
(3)Estimated solely for the purpose of calculating the registration fee pursuant to Rules 457(c) and 457(h) of the Securities Act and based upon the average of the high and low prices of the registrant’s common stock as reported on The Nasdaq Global Market on February 23, 2024, which date is within five business days prior to filing this registration statement.




Exhibit 5.1
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San Diego, California 92130
Tel: +1.858.523.5400 Fax: +1.858.523.5450
www.lw.com
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Washington, D.C.
February 29, 2024

Avidity Biosciences, Inc.
10578 Science Center Drive, Suite 125
San Diego, California 92121

Re: Registration Statement on Form S-8; 3,963,742 Shares of Common Stock, par value $0.0001 per share

To the addressees set forth above:

We have acted as special counsel to Avidity Biosciences, Inc., a Delaware corporation (the “Company”), in connection with the proposed issuance of an aggregate of 3,963,742 shares of common stock, $0.0001 par value per share (the “Shares”), of the Company, pursuant to the Company’s 2020 Incentive Award Plan (the “Plan”). The Shares are included in a registration statement on Form S-8 under the Securities Act of 1933, as amended (the “Act”), filed with the Securities and Exchange Commission (the “Commission”) on February 29, 2024 (the “Registration Statement”). This opinion is being furnished in connection with the requirements of Item 601(b)(5) of Regulation S-K under the Act, and no opinion is expressed herein as to any matter pertaining to the contents of the Registration Statement, other than as expressly stated herein with respect to the issue of the Shares.

As such counsel, we have examined such matters of fact and questions of law as we have considered appropriate for purposes of this letter. With your consent, we have relied upon certificates and other assurances of officers of the Company and others as to factual matters without having independently verified such factual matters. We are opining herein as to the General Corporation Law of the State of Delaware and we express no opinion with respect to any other laws.

In our examination, we have assumed the genuineness of all signatures, the authenticity of all documents submitted to us as originals and the conformity to authentic original documents of all documents submitted to us as copies.

Subject to the foregoing and the other matters set forth herein, it is our opinion that, as of the date hereof, when the Shares shall have been duly registered on the books of the transfer agent and registrar therefor in the name or on behalf of the recipients, or certificates representing the Shares (in the form of the specimen certificate most recently filed as an exhibit to the Registration Statement on Form S-1) have been manually signed by an authorized officer of the transfer agent and registrar therefor, and subject to the Company completing all actions and proceedings required on its part to be taken prior to the issuance of the Shares, and when the Shares have been issued by the Company in the circumstances contemplated by the Plan for legal consideration in excess of par value, the issuance of the Shares will have been duly authorized by all necessary corporate action of the Company, and the Shares will be validly issued, fully paid and nonassessable. In rendering the foregoing opinion, we have assumed that the Company will comply with all applicable notice requirements regarding uncertificated shares provided in the General Corporation Law of the State of Delaware.

1
February 29, 2024
Page 2
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This opinion is for your benefit in connection with the Registration Statement and may be relied upon by you and by persons entitled to rely upon it pursuant to the applicable provisions of the Act. We consent to your filing this opinion as an exhibit to the Registration Statement. In giving such consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Act or the rules and regulations of the Commission thereunder.


Sincerely,

/s/ Latham & Watkins LLP
2

Consent of Independent Registered Public Accounting Firm

We hereby consent to the incorporation by reference in this Registration Statement of our reports dated February 28, 2024, relating to the financial statements and the effectiveness of internal control over financial reporting of Avidity Biosciences, Inc. (the Company) appearing in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. Our report on the effectiveness of internal control over financial reporting expresses an adverse opinion on the effectiveness of the Company’s internal control over financial reporting as of December 31, 2023.
/s/ BDO USA, P.C.

San Diego, California
February 29, 2024


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