Alnylam Pharmaceuticals, Inc. (NASDAQ: ALNY) is having an overwhelmingly positive start to the trading session this morning, and for good reason. The company, in cooperation with Sanofi (SNY) released strong clinical data, causing excitement among investors and sending the stock toward the top. Of course, our partners at Trade Ideas were the first to alert us to the gains. At the moment (9:27), ALNY is trading at $97.75 per share after a gain of $22.71 per share or 30.26% thus far today.
ALNY Gains Big On Positive Clinical Data
As mentioned above, Alnylam Pharmaceuticals is having an overwhelmingly strong start to the trading session this morning after reporting positive clinical data in cooperation with Sanofi. The data comes from the Phase 3 clinical study of Patisiran as a treatment in Hereditary ATTR (hATTR) Amyloidosis Patients with Polyneuropathy. Here are the key points from today’s press release with reard to the news…
- Endpoints – ALNY informed investors that investigational RNAi Therapeutic Patisiran has met its Primary and all Secondary Endpoints. The treatment showed a highly significant reduction in neuropathy progression and improvement in quality of life at 18 months when compared to the placebo.
- Regulatory Goals – As a result of the strong data, ALNY expects to file its New Drug Application with the United States Food and Drug Administration in late 2017 as well as its Marketing Authorization Application in early 2018.
- Results – Finally, the company will be presenting the full results of the study at the 1st European ATTR Amyloidosis Meeting in November. The meeting will be held in Paris, France and Cambridge, MA on September 20th.
In a statement, John Maraganore, Ph.D., CEO at ALNY, had the following to offer…
“We are very proud to report the first ever positive Phase 3 results for an RNAi therapeutic, marking the potential arrival of an entirely new class of medicines. This moment is the culmination of a 15-year journey of tireless work by countless contributors who have overcome enormous scientific and business challenges to make RNAi therapeutics a reality… This is an incredibly exciting milestone for Alnylam and RNAi, and most importantly for patients and their treating physicians and families. We extend our deepest gratitude to all the patients, investigators and study staff who participated in the APOLLO study – they made this important scientific progress possible.”
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on ALNY. In particular, we’re interested in following the story surrounding the ongoing efforts to bring Patisiran to the market. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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