BUZZ-Alnylam jumps as heart disease drug succeeds in key study

Reuters06-25

(Updates)

** Shares of Alnylam Pharmaceuticals surge as much as 40% to $231.64 - hitting their highest levels since Feb 2023

** Set to add over $8 bln in market cap if gains hold

** Co says its heart disease drug vutrisiran met the main goal and all secondary goals in a closely watched late-stage study

** The drug, vutrisiran, helped reduce deaths and heart-related hospitalizations by 33% in patients with a rare heart disease known as ATTR-CM

** ATTR-CM, or transthyretin amyloid cardiomyopathy, is a condition in which heart muscles are restricted due to accumulation of irregular proteins

** ALNY's drug works by switching off irregular production of the protein transthyretin

** William Blair analyst Myles Minter said data shows how this mechanism could benefit patients with ATTR-CM

** Ionis Pharma and Intellia , which are developing drugs of the same class as vutrisiran, rose 3% each

** Shares of BridgeBio , which is developing a rival drug, fell ~19% to $22.07

** Minter said detailed data from ALNY's drug will show how it pares against BBIO's drug

** Including session's moves, ALNY shares up ~17% YTD, while BBIO down ~45%, NTLA down ~18% and IONS down ~15%

(Reporting by Unnamalai L and Bhanvi Satija in Bengaluru)

((Unnamalai.L@thomsonreuters.com;))

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