Alnylam Pharmaceuticals (NASDAQ:ALNY) saw its shares soar after announcing successful results from a study of its drug vutrisiran, marketed as Amvuttra, for treating ATTR amyloidosis with cardiomyopathy, a progressive and deadly form of heart disease.
This breakthrough potentially paves the way for expanding the use of the company's top-selling product.
The study, released on Monday, demonstrated that Amvuttra significantly reduced death and hospitalizations among patients with the serious heart condition, both in those already taking a Pfizer drug for the condition and those not on the Pfizer medication.
Specifically, Alnylam reported a 28% reduction in death and heart-related hospitalizations in patients on the Pfizer drug and a 33% reduction in those not on it.
The clinical trial included 655 adults who received either Amvuttra or a placebo once every three months for up to three years.
The company highlighted the drug's "encouraging" safety and tolerability profile and plans to seek regulatory approval later this year.
"We really feel that this data has set the bar for a new standard of care," stated Alnylam CEO Yvonne Greenstreet in an interview.
Following the news, Alnylam shares surged as much as 36% in premarket trading. This significant rise comes after the stock had fallen 13% earlier this year.