Here's Why Arbutus Biopharma Corp. Stock Soared Today

Shares of Arbutus Biopharma Corp. (NASDAQ: ABUS) rode some mighty coattails today. This morning, Alnylam Pharmaceuticals, Inc. (NASDAQ: ALNY) announced highly positive data for a candidate that employs delivery technology it licensed from Arbutus. The surprisingly positive results raised hopes for future royalties and lifted the stock 20.7% higher to end Wednesday's session.

Alnylam suffered some safety-related setbacks that forced it to shutter a program with a drug similar to the candidate that succeeded today, patisiran. The familial amyloid polyneuropathy candidate uses Arbutus' lipid nanoparticle delivery technology to enter cells. If approved, Arbutus will be entitled to a single-digit royalty percentage on sales of the drug.

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Source: Fool.com