In response to the company sharing a slew of positive developments with investors, shares of Alnylam Pharmaceuticals (NASDAQ: ALNY), a clinical-stage biotech focused on RNAi therapies, jumped 13% in November according to data from S&P Global Market Intelligence.
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Here's a review of the key announcements made during the month:
- Alnylam started off the month with a bang. Shares rose by double digits in response to a data readout from its late-stage Apollo trial. The data suggested that Alnylam's product candidate patisiran could have an edge over Ionis Pharmaceuticals' (NASDAQ:IONS) inotersen in treating hereditary ATTR amyloidosis (hATTR).
- The company kicked off its phase 3 Envision trial, which is studying a compound called givosiran as a potential treatment for acute hepatic porphyrias. Data is expected in the middle of 2018, and if all goes well then it could be in regulators' hands before the end of the year.
- The company announced that it had a "successful" meeting with the FDA in which it discussed the future development of its hemophilia drug candidate called fitusiran. Management stated that the FDA is now considering removing the clinical hold that was placed on its development earlier this year.
- The company reported third-quarter earnings.
- The European Medicines Agency granted patisiran "accelerated assessment" as a treatment for hATTR. Management affirmed that the company is on track to have it in regulators' hands before the end of the year.
- Alynlam successfully raised $805 million from a common stock offering.
- The FDA granted patisiran "breakthrough therapy designation" as a treatment for hATTR.
Given the news, it isn't hard to figure out why investors had yet another profitable month.
2017 has been a truly remarkable year for Alnylam's investors. Shares are currently up more than 228% since January, which is largely owed to the great clinical news related to patisiran.
To sum up, Alnylam is flush with cash, has a strong partnership with Sanofi in place, and is on the verge of transforming itself into a commercial-stage business. That makes Alnylam a great stock for biotech investors to get to know.
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