NVO - Alnylam Arrowhead gains on Novo bid to acquire Dicerna
The offer made by Novo Nordisk (NYSE:NVO) to acquire Dicerna Pharmaceuticals (DRNA +79.1%), a company advancing ribonucleic acid interference (RNAi)-based drugs, has propelled other biotechs focused on treatments based on the technology. Novo (NVO) is on track to pay as much as 80% premium to Dicerna’s (NASDAQ:DRNA) closing price on Wednesday, according to the pre-market announcement. Arrowhead Pharmaceuticals (ARWR +10.7%) and Alnylam Pharmaceuticals (ALNY +7.8%) have sharply gained in reaction. Arrowhead (NASDAQ:ARWR) is a development stage company with its lead RNAi therapeutic candidate ARO-AAT, currently in Phase 2 trials targeted at liver diseases linked to alpha-1 antitrypsin deficiency. Alnylam Pharmaceuticals (NASDAQ:ALNY) already commercializes its RNAi therapeutic ONPATTRO (patisiran) for adults with polyneuropathy due to hereditary transthyretin-mediated amyloidosis. Meanwhile, Arbutus Biopharma (ABUS +2.4%), whose portfolio includes RNAi candidates, has recorded a moderate gain. Its lead assets include AB-729, a subcutaneously delivered RNAi treatment undergoing studies for hepatitis B virus infection.
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Alnylam, Arrowhead gains on Novo bid to acquire Dicerna