Dec. 23, 2014, 12:45 PM
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Jun. 13, 2014, 11:41 AM
- Shares of Arrowhead Research (ARWR -16.1%) are down on heavy volume in response to the patent award to Alnylam Pharmaceuticals (ALNY -0.2%) expanding its McSwiggen patent estate for RNAi therapeutics. The just-awarded patent (no. 8,618,277) covers the development of RNAi therapeutics for HBV. One of Arrowhead's lead product candidates is ARC-520, an RNAi-based therapeutic for the treatment of chronic HBV infection.
May. 12, 2014, 9:26 AM
- Certain traders are apparently swinging from trees this morning as they pop shares of Alnylam (ALNY) 8% on modest volume in premarket action in response to its announcement of a significant reduction in HBV surface antigen in preclinical testing on four monkeys with its RNAi therapeutic ALN-HBV product candidate. The product reduced HBsAg as much as 2.3 log10 compared to 0.5 log10 which is the generally accepted minimum reduction indicating immunologic cure. While encouraging, a colossal amount of work and time remains before any such product will reach the market.
- Alnylam purchased the assets from Merck (MRK) in January for $175M ($25M cash + stock). Merck acquired the assets via its acquisition of Sirna Therapeutics in 2006 for $1.1B. Merck's exit at a significant loss is a clear signal that the road to commercialization will be long and arduous.
- Alnylam hopes to file an IND by the end of 2015.
May. 12, 2014, 9:12 AM
Apr. 15, 2014, 12:06 PM
- Shares of RNA interference firm Tekmira Pharmaceuticals (TKMR -14.5%) continue their slide in early trading. Prices have cratered 60% since the 6x run-up peaked at $31.48 on March 13.
- Although Big Pharma has lost much of its enthusiasm for RNA interference, some analysts remain bullish. RBC Capital has a $30 PT on the stock and Maxim Group has $31. Stifel Nicolaus is a bit more modest with $19.
- Most of the firm's 2013 revenue of $15.5M came from its contract with the DOD for the development of an Ebola treatment ($9.8M) and a milestone payment from Alnylam (ALNY -4.5%) ($5M) that was triggered by the start of the Phase 3 clinical trial for ALN-TTR02 (patisiran).
Feb. 24, 2014, 12:04 PM
- "When we first launched coverage of Tekmira (TKMR +8.9%) on June 18, 2013 at $4.80 we modeled our expectations with a high degree of conservatism using a 30% risk rate across the complete model," says analyst Jason Kolbert. "We are now lowering that discount rate from 30% to 15%."
- The new price target of $31 is up from $17 previously.
- The lower discount rate is thanks to progress of Tekmira partners Alnylam (ALNY -1.1%), Marqibo, and Monsanto, and the ever-rising evidence of the viability of SiRNA and the platform required to deliver it. He notes the gains in Isis Pharma last week amid preliminary test data, and the continued rise in Alnylam since Sanofi agreed to pay $700M for access to rare-disease treatments, and took a 12% stake in the company.
Jan. 14, 2014, 10:28 AM
Jan. 13, 2014, 12:46 PM
Jan. 13, 2014, 9:12 AM
Jan. 13, 2014, 8:01 AM
- Alnylam Pharmaceuticals (ALNY) acquires Merck (MRK) subsidiary Sirna Therapeutics for $175M upfront in cash and equity — MRK may also get milestone payments and "single-digit" royalties tied to development and sales.
- The deal gives ALNY "pre-clinical [RNAi] therapeutic candidates, chemistry, siRNA-conjugate and other delivery technologies," which CEO John Maraganore says complement the company's existing portfolio. (PR)
- See also: SNY deepens relationship with ALNY in $700M deal
- Also: ALNY gives pipeline update
- ALNY +30% premarket
Nov. 14, 2013, 12:51 PM
- "If Diflunisal is able to impact slowing of FAP disease progression via a TTR stabilizer mechanism, then TTR knockdown approaches that wipe out the TTR protein should provide benefit that is standards of deviations better and will possibly lead to complete disease cessation," Leerink's Marko Kozul says, summarizing the view of MEDACorp key opinion leaders and maintaining an Outperform rating on shares of Alnylam Pharmaceuticals (ALNY -4.9%).
- Ultimately, Kozul says Phase 3 Diflunisal data de-risks the patisiran story.
- Price target maintained at $82, representing upside of ~54% from Wednesday's close.
Sep. 23, 2013, 2:06 PM
- It's a banner day for sell-side billion dollar biotech bumps, writes theStreet's Adam Feuerstein, citing price target hikes from Leerink and BMO for Celldex Therapeutics (CLDX +11.2%) and Isis Pharmaceuticals (ISIS +7.3%) respectively.
- Add Alnylam Pharmaceuticals (ALNY +7.1%) to the party, as Leerink's Marko Kozul ups his price target to $80 from $57.59 citing today's TTR-mediated amyloidosis data.
- "Full ALN-TTR-SC (amyloidosis) data incrementally derisk both TTR-SC and ALNY's near term clinical pipeline programs," Kozul notes.
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