Alnylam Pharmaceuticals, Inc. (NASDAQ: ALNY) is having a pretty strong start to the trading session today, and for good reason. The company announced that it has reached an agreement with the FDA surrounding a planned Phase III clinical trial. As a result, investors got excited and the stock is finding its way upward. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. At the moment (9:45), ALNY is trading at $51.86 per share after a gain of $0.51 per share or 0.98% thus far today.
ALNY Gains On Agreement With FDA Surrounding Planned Phase III Clinical Trial
As mentioned above, Alnylam Pharmaceuticals is having a strong day in the market today after it announced an agreement with the FDA centered around a planned Phase III clinical trial for inclisiran, a treatment that ALNY is working closely with The Medicines Company (MDCO) to develop. The trial is expected to support the submission of a New Drug Application surrounding the atherosclerotic cardiovascular disease (ASCVD) treatment. In a statement, John M. Maraganore, Ph.D., CEO at ALNY had the following to offer…
“The Medicines Company’s agreement with the FDA supports a clear path forward for further inclisirin development and regulatory review. Indeed, we’re pleased with the excellent progress made by our colleagues at The Medicines Company to advance this potential, innovative medicine to patients in need, and we intend to fully support them in their efforts… Moreover, we believe the planned development path for inclisiran positions this promising potential medicine to contribute meaningfully to our alnylam 2020 goals.”
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on both ALNY and MDCO. In particular, we’re interested in following the progression surrounding inclisiran. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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