<SEC-DOCUMENT>0001493215-25-000013.txt : 20251029
<SEC-HEADER>0001493215-25-000013.hdr.sgml : 20251029
<ACCEPTANCE-DATETIME>20251029211409
ACCESSION NUMBER:		0001493215-25-000013
CONFORMED SUBMISSION TYPE:	SCHEDULE 13D/A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20251029
DATE AS OF CHANGE:		20251029

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Avidity Biosciences, Inc.
		CENTRAL INDEX KEY:			0001599901
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences
		EIN:				461336960
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-91534
		FILM NUMBER:		251431814

	BUSINESS ADDRESS:	
		STREET 1:		3020 CALLAN ROAD
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92121
		BUSINESS PHONE:		858-401-7900

	MAIL ADDRESS:	
		STREET 1:		3020 CALLAN ROAD
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92121

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Avidity Biosciences LLC
		DATE OF NAME CHANGE:	20161227

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Avidity NanoMedicines LLC
		DATE OF NAME CHANGE:	20140211

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			RTW INVESTMENTS, LP
		CENTRAL INDEX KEY:			0001493215
		ORGANIZATION NAME:           	
		EIN:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A

	BUSINESS ADDRESS:	
		STREET 1:		40 10TH AVENUE
		STREET 2:		7TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10014
		BUSINESS PHONE:		646-597-6980

	MAIL ADDRESS:	
		STREET 1:		40 10TH AVENUE
		STREET 2:		7TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10014

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	RTW INVESTMENTS, LLC
		DATE OF NAME CHANGE:	20100602
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
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		<amendmentNo>5</amendmentNo>
	      <securitiesClassTitle>Common Stock, par value $0.0001 per share</securitiesClassTitle>
      <dateOfEvent>10/27/2025</dateOfEvent>
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        <issuerCIK>0001599901</issuerCIK>
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		<issuerName>Avidity Biosciences, Inc.</issuerName>

        <address>
          <com:street1>3020 Callan Road</com:street1>
                    <com:city>San Diego</com:city>
          <com:stateOrCountry>CA</com:stateOrCountry>
          <com:zipCode>92121</com:zipCode>
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			<personName>Roderick Wong, M.D.</personName>
			<personPhoneNum>(646) 597-6980</personPhoneNum>
				<personAddress>
					<com:street1>RTW Investments, LP</com:street1>
					<com:street2>40 10th Avenue, Floor 7</com:street2>					<com:city>New York</com:city>
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			<reportingPersonInfo>
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				<reportingPersonNoCIK>N</reportingPersonNoCIK>
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				  				  <fundType>AF</fundType>




				<legalProceedings>N</legalProceedings>

								<citizenshipOrOrganization>DE</citizenshipOrOrganization>
												<soleVotingPower>0.00</soleVotingPower>
												<sharedVotingPower>4686110.00</sharedVotingPower>
												<soleDispositivePower>0.00</soleDispositivePower>

				<sharedDispositivePower>4686110.00</sharedDispositivePower>
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								<citizenshipOrOrganization>X1</citizenshipOrOrganization>
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												<soleDispositivePower>0.00</soleDispositivePower>

				<sharedDispositivePower>4686110.00</sharedDispositivePower>
												<aggregateAmountOwned>4686110.00</aggregateAmountOwned>

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	<items1To7>
		<item1>
			<securityTitle>Common Stock, par value $0.0001 per share</securityTitle>
			<issuerName>Avidity Biosciences, Inc.</issuerName>

			<issuerPrincipalAddress>
			 <com:street1>3020 Callan Road</com:street1>
			  			  <com:city>San Diego</com:city>
			  <com:stateOrCountry>CA</com:stateOrCountry>
			  <com:zipCode>92121</com:zipCode>
			</issuerPrincipalAddress>

						<commentText>This Amendment No. 5 ("Amendment No. 5") relates to and amends the Statement of Beneficial Ownership on Schedule 13D of the Reporting Persons, initially filed jointly by the Reporting Persons with the Securities and Exchange Commission ("SEC") on June 22, 2020 (the "Original Schedule 13D"), as amended by Amendment No. 1 filed jointly by the Reporting Persons with the SEC on February 2, 2023 ("Amendment No. 1"), as amended by Amendment No. 2 filed jointly by the Reporting Persons with the SEC on January 24, 2024 ("Amendment No. 2") and as amended by Amendment No. 3 filed jointly by the Reporting Persons with the SEC on March 1, 2024 ("Amendment No. 3") and as amended by Amendment No. 4 filed jointly by the Reporting Persons with the SEC on August 23, 2024 ("Amendment No. 4", and together with the Original Schedule 13D as amended by Amendment No. 1, Amendment No. 2, Amendment No. 3, Amendment No. 4 and this Amendment No. 5, the "Schedule 13D"), with respect to common stock, par value $0.0001 per share (the "Shares") of the Issuer.

Items 2, 5 and 6 of the Schedule 13D are hereby amended to the extent hereinafter expressly set forth. All capitalized terms used and not expressly defined herein have the respective meanings ascribed to such terms in the Schedule 13D.</commentText>
					</item1>

				<item2>
												<hasBeenConvicted>During the last five years, none of the Reporting Persons has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree of final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws, other than the previously announced settlement order entered into by RTW Investments, L.P. with the SEC dated May 30, 2023 (File No. 3-21473) (the "Settlement"). Pursuant to the Settlement, the SEC found violations of Sections 206(2) and 206(4) of the Investment Advisors Act of 1940 and Rule 206(4)-7 thereunder, and Section 13(d) of the Exchange Act and Rules 13d-1 and 13d-2 thereunder, relating to conflicts of interest disclosure and beneficial ownership reporting, respectively. Under the terms of the settlement, RTW Investments agreed to a cease-and-desist order, a censure, and a civil penalty of $1.4 million.</hasBeenConvicted>			<convictionDescription>The information in Item 2(d) is incorporated herein by reference.</convictionDescription>					</item2>



				<item5>
			 <percentageOfClassSecurities>See rows (11) and (13) of the cover pages to this Schedule 13D for the aggregate number of Shares and percentages of the Shares beneficially owned by the Reporting Persons. The percentages used in this Schedule 13D are calculated based upon 149,665,205 Shares outstanding, which is the sum of: (i) the 128,653,337 Shares outstanding as of July 29, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2025, filed with the SEC on August 7, 2025; (ii) the 17,250,000 Shares issued in a public offering as reported in the Issuer's Prospectus Supplement filed pursuant to Rule 424(b)(5) with the SEC on September 12, 2025: and (iii) 3,761,868 Shares issued upon exercise of the Pre-Funded Warrants on October 27, 2025.</percentageOfClassSecurities>			<numberOfShares>See rows (7) through (10) of the cover page to this Schedule 13D for the number of Shares as to which each Reporting Person has the sole or shared power to vote or direct the vote and sole or shared power to dispose or to direct the disposition.</numberOfShares>			<transactionDesc>The transactions in the Shares effected by the Reporting Persons during the past sixty (60) days, which were all in the open market, are set forth on Schedule 1 attached hereto as Exhibit 99.1.</transactionDesc>			<listOfShareholders>Not applicable.</listOfShareholders>			<date5PercentOwnership>The Reporting Persons ceased to be the beneficial owners of more than five percent of the Shares on October 29, 2025.</date5PercentOwnership>		</item5>

				<item6>
			<contractDescription>The penultimate paragraph of Item 6 of Amendment No. 4 is hereby amended and restated as follows:

Since the filing of the Schedule 13D, the Reporting Persons have acquired and disposed of cash-settled swaps that constitute short economic exposure to the Shares ("Short TRS Positions"). Currently the Short TRS Positions of the Reporting Persons constitute long economic notional exposure to 1,200,000 Shares or approximately 0.8% of the outstanding Shares in the aggregate. All balances due under the swaps will be cash settled on the applicable settlement date and may not be settled by the delivery of Shares. In addition, the swaps do not give any of the Reporting Persons direct or indirect voting, investment or dispositive control over any securities of the Issuer, do not provide the Reporting Persons with an option to purchase any securities of the Issuer and do not require the counterparty thereto to acquire, hold, vote or dispose of any securities of the Issuer. The Reporting Persons do not have voting power or dispositive power with respect to the Shares referenced in such cash settled swaps and disclaim beneficial ownership of the to which such swaps relate.

In addition, the last paragraph of Item 6 of the Schedule 13D is hereby amended and restated as follows:

The Reporting Persons have settled their entire short position in the Shares and no longer have any short position in the Shares.</contractDescription>
		</item6>

				<item7>
			<filedExhibits>Exhibit 99.1	Schedule 1</filedExhibits>
		</item7>

	</items1To7>

<signatureInfo>

	<signaturePerson>
		<signatureReportingPerson>RTW Investments, LP</signatureReportingPerson>

					<signatureDetails>
				<signature>/s/ Roderick Wong, M.D.</signature>
				<title>Roderick Wong, M.D., Managing Partner</title>
				<date>10/29/2025</date>
			</signatureDetails>

	</signaturePerson>

	<signaturePerson>
		<signatureReportingPerson>Roderick Wong</signatureReportingPerson>

					<signatureDetails>
				<signature>/s/ Roderick Wong, M.D.</signature>
				<title>Roderick Wong, M.D.</title>
				<date>10/29/2025</date>
			</signatureDetails>

	</signaturePerson>



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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ex-99-10302025_011009.htm
<DESCRIPTION>SCHEDULE 1
<TEXT>
<!DOCTYPE html PUBLIC "-//IETF//DTD HTML//EN">
<html><head><title>ex-99-10302025_011009.htm</title></head><body style="margin-top:0;font-family:Times New Roman; font-size:10pt; color:#000000">
<p style="margin:0px; font-size:11pt" align="right">Exhibit 99.1</p>
<p style="margin:0px"><br></p>
<p style="margin:0px; font-size:11pt" align="center">Schedule 1</p>
<p style="margin:0px" align="center"><br></p>
<p style="margin:0px; font-size:11pt">This Schedule sets forth information with respect to each purchase and sale of Shares which were effectuated by the Reporting Persons during the past sixty (60) days. All transactions were effectuated in the open market through a broker. The price reported in the column Price Per Share ($) is a weighted average price if a price range is indicated in the column Price Range ($). These Shares were purchased/sold in multiple transactions at prices between the price ranges below. The Reporting Persons will undertake to provide to the staff of the SEC, upon request, full information regarding the number of Shares sold at each separate price.</p>
<p style="margin:0px"><br></p>
<p style="margin:0px"><br></p>
<table style="margin-top:0px; font-size:10pt" cellpadding="0" cellspacing="0" align="center"><tr style="font-size:0"><td width="138"></td><td width="169"></td><td width="119"></td><td width="118.733"></td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="138"><p style="margin:0px; font-size:11pt" align="center"><b>Trade Date</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="169"><p style="margin:0px; font-size:11pt" align="center"><b>Shares Purchased</b></p>
<p style="margin:0px; font-size:11pt" align="center"><b>(Sold)</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="119"><p style="margin:0px; font-size:11pt" align="center"><b>Price ($)*</b></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="118.733"><p style="margin:0px; font-size:11pt" align="center"><b>Price Range ($)*</b></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="138"><p style="margin:0px; padding-left:34.733px; font-size:11pt">09/02/2025</p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="169"><p style="margin:0px; padding-left:34.733px; padding-right:9.4px; font-size:11pt">&nbsp;&nbsp;&nbsp;(250,200)**</p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="119"><p style="margin:0px; padding-left:34.133px; padding-right:1.267px; font-size:11pt">47.01</p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="118.733"><p style="margin:0px; font-size:11pt" align="center">46.77 - 47.52</p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="138"><p style="margin:0px; padding-left:34.733px; font-size:11pt">09/10/2025</p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="169"><p style="margin:0px; padding-left:34.733px; padding-right:9.4px; font-size:11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(50,195)**</p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="119"><p style="margin:0px; padding-left:34.133px; padding-right:1.267px; font-size:11pt">47.64</p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="118.733"><p style="margin:0px" align="center"><br></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="138"><p style="margin:0px; padding-left:34.733px; font-size:11pt">09/12/2025</p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="169"><p style="margin:0px; padding-left:34.733px; padding-right:9.4px; font-size:11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375,000</p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="119"><p style="margin:0px; padding-left:34.133px; padding-right:1.267px; font-size:11pt">40.00</p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="118.733"><p style="margin:0px" align="center"><br></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="138"><p style="margin:0px; padding-left:34.733px; font-size:11pt">09/12/2025</p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="169"><p style="margin:0px; padding-left:34.733px; padding-right:9.4px; font-size:11pt">&nbsp;&nbsp;&nbsp;(375,000)</p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="119"><p style="margin:0px; padding-left:34.133px; padding-right:1.267px; font-size:11pt">44.44</p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="118.733"><p style="margin:0px; font-size:11pt" align="center">44.10 <font style="font-family:Arial Unicode MS,Times New Roman">&ndash;</font> 44.72</p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="138"><p style="margin:0px; padding-left:34.733px; font-size:11pt">09/15/2025</p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="169"><p style="margin:0px; padding-left:34.733px; padding-right:9.4px; font-size:11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(44,650)**</p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="119"><p style="margin:0px; padding-left:34.133px; padding-right:1.267px; font-size:11pt">42.12</p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="118.733"><p style="margin:0px" align="center"><br></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="138"><p style="margin:0px; padding-left:34.733px; font-size:11pt">10/27/2025</p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="169"><p style="margin:0px; padding-left:34.733px; padding-right:9.4px; font-size:11pt">&nbsp;3,761,868***</p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="119"><p style="margin:0px; padding-left:34.133px; padding-right:1.267px; font-size:11pt">0.001</p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="118.733"><p style="margin:0px" align="center"><br></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="138"><p style="margin:0px; padding-left:34.733px; font-size:11pt">10/27/2025</p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="169"><p style="margin:0px; padding-left:34.733px; padding-right:9.4px; font-size:11pt">(4,014,398)</p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="119"><p style="margin:0px; padding-left:34.133px; padding-right:1.267px; font-size:11pt">70.03</p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="118.733"><p style="margin:0px; font-size:11pt" align="center">69.95 <font style="font-family:Arial Unicode MS,Times New Roman">&ndash;</font> 70.11</p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="138"><p style="margin:0px; padding-left:34.733px; font-size:11pt">10/28/2025</p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="169"><p style="margin:0px; padding-left:34.733px; padding-right:9.4px; font-size:11pt">(2,930,381)</p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="119"><p style="margin:0px; padding-left:34.133px; padding-right:1.267px; font-size:11pt">69.95</p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="118.733"><p style="margin:0px; font-size:11pt" align="center">69.93 <font style="font-family:Arial Unicode MS,Times New Roman">&ndash;</font> 69.96</p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="138"><p style="margin:0px; padding-left:34.733px; font-size:11pt">10/29/2025</p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="169"><p style="margin:0px; padding-left:34.733px; padding-right:9.4px; font-size:11pt">(1,332,118)</p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="119"><p style="margin:0px; padding-left:34.133px; padding-right:1.267px; font-size:11pt">69.92</p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="118.733"><p style="margin:0px; font-size:11pt" align="center">69.88 <font style="font-family:Arial Unicode MS,Times New Roman">&ndash;</font> 69.95</p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="138"><p style="margin:0px; padding-left:34.733px; font-size:11pt">10/29/2025</p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="169"><p style="margin:0px; padding-left:34.733px; padding-right:9.4px; font-size:11pt">(2,171,690)****</p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="119"><p style="margin:0px; padding-left:34.133px; padding-right:1.267px; font-size:11pt">N/A</p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="118.733"><p style="margin:0px" align="center"><br></p>
</td></tr><tr><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="138"><p style="margin:0px"><br></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="169"><p style="margin:0px"><br></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="119"><p style="margin:0px"><br></p>
</td><td style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign="top" width="118.733"><p style="margin:0px"><br></p>
</td></tr></table><p style="margin:0px"><br></p>
<p style="margin:0px; padding-left:36px; font-size:11pt">* Excluding commissions, SEC fees, etc. (rounded to nearest cents)</p>
<p style="margin:0px; padding-left:36px; font-size:11pt">** Short sale</p>
<p style="margin:0px; padding-left:36px; font-size:11pt">*** Represents shares acquired on the net (cashless) exercise of 3,761,945 Pre-Funded Warrants.</p>
<p style="margin:0px; padding-left:36px; font-size:11pt">**** Shares were disposed of to cover short positions</p>
<p style="margin:0px"><br><br></p>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
