NVS - Alnylam Pharmaceuticals gains on speculation of cancelling from investor event

Alnylam Pharmaceuticals (ALNY) rose 4%, paring some earlier gains on speculation that it cancelled from an investor event with Guggenheim. Alnylam (NASDAQ:ALNY) had been scheduled to meet with some clients at a rare disease/genomic event, according to speculations from traders and social media posts. One poster on twitter sad the cancellation may be vitusiran PDUFA related. ALNY didn't respond to Seeking Alpha request for comment. An email to the Guggenheim sell-side analyst that covers ALNY wasn't immediately returned. The potentially cancellation comes after a Bloomberg report in November that the drug maker may be a possible acquisition target for Novartis (NVS). Alnylam was also seen an target after Novo Nordisk (NVO) agreed to acquire Dicerna for more than $3B. ALNY is focused on RNAi therapies, similar to Dicerna. Recall from June, FDA accepted Alnylam's vutrisiran application for hereditary ATTR amyloidosis. PDUFA PDUFA target action date of April 14.

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Alnylam Pharmaceuticals gains on speculation of cancelling from investor event