Here's Why Alnylam's Gain Is Ionis Pharmaceuticals' Loss Today

As of 1:18 p.m. EDT on Thursday, shares of Alnylam Pharmaceuticals, Inc. (NASDAQ: ALNY) are up 13.7%, while shares of its biotech peer Ionis Pharmaceuticals Inc. (NASDAQ: IONS) are down 8.1%.

Investors are cheering positive results from the late-stage Apollo trial with Alnylam's lead candidate, patisiran. The top-line data suggest patisiran could have a competitive edge over a candidate being developed by Ionis.

Alnylam's rally today probably would have been more dramatic if it hadn't already told everyone the Apollo trial met its primary endpoint over a month ago. Today's announcement included more details that don't bode well for Ionis and its related candidate, inotersen.

Source: Fool.com