Why Arrowhead Pharmaceuticals Stock Is Soaring Today

Shares of Arrowhead Pharmaceuticals (NASDAQ: ARWR) are up by 49.9% as of 11:35 a.m. EDT on Wednesday, after rising by as much as 51.1% earlier today. Investors are bidding up shares of the biopharmaceutical company today following the release of interim data from a phase 2 clinical trial for one of its pipeline candidates, ARO-AAT.

Arrowhead Pharma is developing ARO-AAT as a treatment for liver disease associated with alpha-1 antitrypsin deficiency (AATD). Alpha-1 antitrypsin is a protein in the liver that protects body tissue from damage. Patients with AATD produce insufficient levels of alpha-1 antitrypsin, which can lead to severe liver problems. This morning, Arrowhead Pharma reported that in a phase 2 study, ARO-AAT had shown "clear evidence of a meaningful pharmacodynamic effect" on AATD patients after 24 weeks of treatment. In particular, ARO-AAT led to a decrease in liver stiffness and injury during the trial.

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Source Fool.com