(Bloomberg) -- Alnylam Pharmaceuticals Inc. shares soared after its drug succeeded in treating a progressive and deadly form of heart disease, potentially opening up a new avenue for the company’s top-selling product. Most Read from BloombergHow Long Can High Rates Last? Bond Markets Say Maybe ForeverNvidia Sales Grow So Fast That Wall Street Can’t Keep UpRussia Is Storing Up a Crime Wave When Its War on Ukraine EndsYen Is Under Pressure Even as Japan Steps Up Its Verbal WarningsCDK Hackers Want
CAMBRIDGE, Mass., June 24, 2024--Alnylam Pharmaceuticals, Inc. (Nasdaq: ALNY), the leading RNAi therapeutics company, today announced positive topline results from its HELIOS-B Phase 3 study of vutrisiran, an investigational RNAi therapeutic in development for the treatment of ATTR amyloidosis with cardiomyopathy (ATTR-CM).
Alnylam (ALNY) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions could translate into further price increase in the near term.