Here's Why Alnylam Pharmaceuticals Rose 35.1% in November
Shares of Alnylam Pharmaceuticals (NASDAQ: ALNY) gained over 35% last month, according to data provided by S&P Global Market Intelligence. The company surprised investors by earning marketing approval for Givlaari (givosiran) in a rare disease called acute hepatic porphyria only four months after submitting a new drug application (NDA). Investors weren't expecting the U.S. Food and Drug Administration (FDA) to make a decision until the first half of 2020.
The announcement forced Wall Street analysts to scramble to update their financial models for the company, which sent the pharma stock soaring. More important, however, is that Givlaari became the first drug based on a targeted RNA interference (RNAi) approach to earn regulatory approval. That's something investors may want to sit up and pay closer attention to.
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Source Fool.com
