Alnylam sheds nearly half its value

RNAi company Alnylam Pharmaceuticals Inc. (NASDAQ:ALNY) lost $34.02 (48%) to $36.22 on Thursday after it said it will discontinue development of revusiran (ALN-TTRsc). The company reported after market hours Wednesday that there was an "imbalance of mortality" in the Phase III ENDEAVOUR trial (see BioCentury Extra, Oct. 5).

Thursday's move drove down Alnylam's market cap by $2.9 billion to close at $3.1 billion. ...