Why Alnylam Pharmaceuticals Stock Is Vaulting Higher Today
Shares of Alnylam Pharmaceuticals (NASDAQ: ALNY) are poised to post a new all-time high upon market open Wednesday. The RNA interference (RNAi) drug specialist's stock price rose by as much as 53% in premarket action this morning.
What's fueling this supercharged move higher today? Ahead of the opening bell, Alnylam announced that its closely watched phase 3 Apollo-B study of the RNAi therapy, patisiran, in patients with transthyretin-mediated (ATTR) amyloidosis with cardiomyopathy met its primary endpoint of change in baseline in the 6-minute walk test at 12 months compared to placebo. ATTR amyloidosis with cardiomyopathy is a rare but often fatal disease, characterized by the buildup of a misfolded protein in the main pumping chamber of the heart.
Image source: Getty Images.
Source Fool.com
