Arrowhead Pharmaceuticals Shares Climb on Plans to File New Drug Application for Plozasiran

Dow Jones09-03

By Sabela Ojea

Shares of Arrowhead Pharmaceuticals on Tuesday climbed in pre-market trading after the company said that it plans to file a new drug application with the U.S. Food and Drug Administration by the end of the year after receiving positive results for its plozasiran treatment.

The stock was up 9.1% to $26. Shares have dropped 22% since the beginning of the year, and 15% over the past 12 months.

The biotechnology company, which also plans to seek regulatory approval with additional global regulatory authorities outside the U.S., said that the phase 3 of the Palisade Study to treat patients with familial chylomicronemia syndrome delivered reduced triglycerides by 80% and reduced the risk of developing acute pancreatitis by 83%.

Familial chylomicronemia syndrome is a severe and rare genetic disease often caused by various monogenic mutations that can lead to symptoms including acute and potentially fatal pancreatitis, chronic abdominal pain, diabetes, hepatic steatosis, and cognitive issues.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

September 03, 2024 06:23 ET (10:23 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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