Arrowhead Pharmaceuticals (ARWR) surged 5.08% during Monday's intraday trading session, driven by the recent U.S. FDA approval of its first siRNA therapy, REDEMPLO (plozasiran), for treating familial chylomicronemia syndrome (FCS).
The approval marks a significant milestone for Arrowhead, transitioning it into a commercial-stage company. REDEMPLO, which can be self-administered quarterly at home, opens new revenue streams and validates the company's RNAi technology platform. Additionally, Arrowhead's global licensing agreement with Novartis, including a $200 million upfront payment, further strengthens its financial position.
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