Ionis Pharmaceuticals Inc (NASDAQ:IONS) and Alnylam Pharmaceuticals, Inc (NASDAQ:ALNY) have for many years focused on the development of the rare-disease drug. But Thursday turned out to be a low moment for the two. That was after Pfizer Inc (NYSE:PFE), a component of Dow Jones unleashed strong late-stage results for the competing rare-disease drug. And this has shocked even experts that have been making predictions from time to time.
Alnylam’s shares declined by 8.3% to stand at 119.10 at the close and an official working with the company has attested to the fact that it was indeed the lowest ever witnessed since Feb. 9.On the other hand, the stock of Ionis plunged to a seven-month low and that pointed to a 4% closing which was representative of about 44.08. Pfizer witnessed an increase of almost 0.5% placing the final figure at 35.49.
Umer Raffat, who happens to be an analysts working with Evercore referred to the Pfizer release as some sort of a rare late-stage pipeline surprise more so for the company itself. And that he did via a note he was directing to clients.
The impressive aspect was the fact that the study ended up achieving quite a significant number of its major goals, a matter most of the investors had ruled out with a section of them asserting that it was completely impossible.
It was sometime back that Pfizer took to carry out a study to investigate tafamidis, which was a form of drug entrusted with the treatment of a disease closely linked to progressive heart failure called transthyretin cardiomyopathy.
Fundamentally, this condition falls under a category of family of diseases commonly referred to as ATTR or amyloidosis. On the other hand, Ionis and Alnylam are channeling much of their efforts towards the development of drugs they hope will help handle the hereditary forms of ATTR.
Christopher Marai, an Instinet analyst has been making the projection that associated significant risks might be popping up along the way be appearing to be taken care of in the set expectations.
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