Why Is Genetic Disease-Focused Alnylam Pharmaceuticals Stock Trading Lower Today?
Portfolio Pulse from Vandana Singh
The FDA has issued a Complete Response Letter (CRL) to Alnylam Pharmaceuticals Inc's supplemental New Drug Application for patisiran for cardiomyopathy of transthyretin-mediated amyloidosis. The FDA questioned the drug's efficacy, stating that the clinical meaningfulness of patisiran's treatment effects had not been established. As a result, Alnylam will no longer pursue an expanded indication for patisiran in the U.S. Alnylam's stock is down 8.68% following the news.
October 09, 2023 | 3:05 pm
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Alnylam's stock price has dropped following the FDA's questioning of the efficacy of their drug patisiran. The company will no longer pursue an expanded indication for the drug in the U.S.
The FDA's questioning of the efficacy of Alnylam's drug patisiran has led to a drop in the company's stock price. This is due to the fact that the company will no longer pursue an expanded indication for the drug in the U.S., which could have potentially led to increased sales and revenue.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100