Here's Why Alnylam Pharmaceuticals, Inc. Is Slipping Today
Shares of Alnylam Pharmaceuticals, Inc. (NASDAQ: ALNY) a clinical-stage biotech developing RNA-based therapies to treat rare diseases, announced an immediate halt to all studies with one of the more advanced drugs in its clinical-stage development pipeline after the death of a patient. In response, the stock has fallen 11.9% as of 11:40 a.m. EDT during Thursday's session.
Fitusiran is a potential treatment for a wide range of patients with hemophilia, a rare bleeding disorder marked by a lack of clotting factors in the bloodstream. Phase 2 results were positive enough to move forward with a phase 3 study that began recently. Unfortunately, a patient that completed the main leg of the phase 2 study, and was in the extension part of the study in the open-label extension study suffered a fatal blood clot.
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Source: Fool.com