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Piper Jaffray is out with its report today on Alnylam Pharmaceuticals
ALNY, maintaining Neutral.
In a note to clients, Piper Jaffray writes, "Alnylam presented Phase I data on ALN-VSP02 in liver cancer at the American
Society of Clinical Oncology meeting in Chicago on Saturday.
ALN-VSP02 was well tolerated with 1 partial response and 12 patients with stable disease. Alnylam hopes to partner ALN-VSP02 ahead of Phase II studies, although we question the potential value of a deal. Alnylam expects to report Phase I data on ALN-TTR01 in 3Q:11 and file an IND on a more potent, 2nd-generation delivery formulation ALN-TTR02 in 2H:11. Alnylam is the leading RNAi play, however we remain Neutral ahead of clinical progress and validation."
Piper Jaffray maintains a $10 PT on ALNY.
Shares of ALNY closed Friday at $9.82, down 2.87% from Thursday's close.
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