On Thursday Morning, July 11, Alnylam (NASDAQ:ALNY) shared some very positive data from an ongoing Phase 1 trial of ALN-TTRsc. The market loved the data enough to send its shares soaring 15% before the market opened, where they stayed until the close. After a day to digest the news, the market drove shares even higher, then back to Earth. On Thursday, July 18, shares of Alnylam closed at $42.87, still about 14% higher than its closing price of $37.6 on Wednesday, July 10.
I have to admit I found the initial response to Alnylam's Phase 1 data baffling. Isis Pharmaceuticals (ISIS) is also working on a transthyretin-mediated amyloidosis [ATTR] therapy, and it is much further along....
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