Alnylam Pharmaceuticals Stock Surges 40% After A Late-stage Study Meets Main Goal

Shares of Alnylam Pharmaceuticals, Inc. (ALNY) are gaining over 40% on Wednesday morning after the company announced that late-stage study of patisiran In ATTR mmyloidosis with cardiomyopathy met main goal.

ALNY is currently trading at $201.03, up $59.06 or 41.60%, on the Nasdaq, on a volume of 1.8 million shares, above average volume of 0.8 million. The stock opened its trading at $140.29 after closing Tuesday's trading at $141.97. The stock has traded between $117.58 and $212.00 in the past 52-week period.

Alnylam Pharmaceuticals said that the APOLLO-B Phase 3 study of patisiran, an investigational RNAi therapeutic in development for the treatment of transthyretin-mediated or ATTR amyloidosis with cardiomyopathy, met the primary endpoint of change from baseline in the 6-Minute Walk Test at 12 months compared to placebo.

The study also met the first secondary endpoint of change from baseline in quality of life compared to placebo, as measured by the Kansas City Cardiomyopathy Questionnaire.

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