Arrowhead Pharmaceuticals (NASDAQ:ARWR) shares are trading higher on Thursday on news that Vertex Pharmaceuticals discontinued its trial of a drug candidate in the same field as Arrowhead Pharma.
Arrowhead Pharmaceuticals is an American biotechnology company. Its main target is the development of medicine to treat diseases with a genetic origin, characterized by the overproduction of one or more proteins.
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Its medical solutions are aimed at the genes that trigger the diseases. Its portfolio includes drugs targeting hepatitis B, Alpha-1 Antitrypsin Deficiency, thrombosis and angioedema, clear-cell and renal cell carcinoma, and cardiovascular disease.
Arrowhead Pharmaceuticals shares traded up 12.26% to $49.91 on Thursday. The stock has a 52-week high of $73.72 and a 52-week low of $19.51.