Alnylam Stock Jumps After the FDA Approves Its Heart Drug
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Alnylam Pharmaceuticals shares rose 10% Friday after the company nabbed FDA approval to sell its drug Amvuttra to a larger population of patients with a genetic heart condition. The FDA cleared the drug after the close on Thursday, allowing Alnylam to compete against Pfizer and BridgeBio to treat patients with the disease. Alnylam has long been a favorite among biotech investors, but the company hasn’t yet shown it can transition from being a R&D innovator to a sustainable business.
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