3:28 PM
 | 
Aug 27, 2018
 |  BC Extra  |  Clinical News

Pfizer eyes submission after TTR readout; Alnylam gets bump

Pfizer Inc. (NYSE:PFE) reported detailed data from the Phase III ATTR-ACT trial of tafamidis meglumine in patients with transthyretin (TTR) cardiomyopathy showing that the drug led to a 30% improvement in all-cause mortality. However, investors appeared unimpressed by the data as shares of Pfizer were off $0.82 to $41.58 on Monday.

Alnylam Pharmaceuticals Inc. (NASDAQ:ALNY) and Ionis Pharmaceuticals Inc. (NASDAQ:IONS), both of which have approved compounds targeting TTR, each gained value Monday after Pfizer reported the data. Alnylam was up $15.72 (16%) to $112.59, while Ionis added $3.90 to $53.70.

Pfizer has identified tafamidis, a small molecule that stabilizes the TTR protein and prevents its misfolding, as a potential blockbuster drug. The company told BioCentury that it plans to submit an NDA to FDA by year end...

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